During World War II, a labor shortage emerged in some markets. New recruits into the civilian labor force included
(a) teenage females.
(b) married women.
(c) retired people 65 years of age or older.
(d) all of the above.
(d)
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Which of the following decreases the supply of popcorn?
A) a decrease in the price of popcorn B) an increase in the price of popcorn C) a technological advance in the production of popcorn D) a decrease in the number of popcorn producers
Government borrowing may crowd out borrowing by private interests because
A) funds are not available at any interest rate. B) the equilibrium interest rate increases. C) the supply curve shifts to the left. D) None of the above.
If the price of coffee decreases, the demand curve for tea (a substitute good) will:
a. remain unchanged. b. shift to the right. c. shift to the left. d. do none of these
The multiplier effect occurs when:
A. spending by one person generates income for others and causes others to spend more too, increasing the impact of the initial spending on the economy. B. the level of consumer confidence increases more than predicted given a tax cut. C. increased spending by one or more individuals causes others to react and increase their savings. D. None of these is true.