Assuming rational expectations and complete wage and price flexibility, systematic stabilization policy impacts
A) real GDP.
B) real wages.
C) the unemployment rate.
D) the inflation rate.
D
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A scatter diagram with the price of peanut butter on the vertical axis and the price of jelly on the horizontal axis shows a negative relationship
If the price of jelly was placed on the vertical axis and the price of peanut butter was placed on the horizontal axis, the relationship would be a A) negative relationship, also called a direct relationship. B) negative relationship, also called an inverse relationship. C) positive relationship, also called a direct relationship. D) positive relationship, also called an inverse relationship.
Marginal cost is the ________ associated with a particular increase in an activity
A) additional cost B) opportunity cost C) forgone cost D) total cost
The labor force is the sum of
A) employed workers and individuals not looking for work. B) unemployed workers and the working-age population. C) employed workers and discouraged workers. D) employed workers and unemployed workers.
Among other things, the U.S. Consumer Product Safety Commission is responsible for regulating
A. the flammability of mattresses. B. consumer financial markets. C. the safety of aircraft. D. cell phone company billing practices.