The labor demand curve is based on the firm's:
a. average revenue curve.
b. marginal product curve.
c. marginal cost curve.
d. average cost curve.
e. marginal revenue product curve.
e
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Supply-side inflation is caused by
A) an increase in aggregate demand and no change in aggregate supply. B) a decrease in aggregate supply and no change in aggregate demand. C) a decrease in aggregate demand and no change in aggregate supply. D) an increase in aggregate supply and no change in aggregate demand.
If people expect relative PPP to hold
A) the difference between the interest rates offered by dollar and euro deposits will equal the difference between the inflation rates expected, in the United States and Europe, respectively, over the relevant horizon. B) the difference between the interest rates offered by dollar and euro deposits will equal the difference between the inflation rates expected in Europe and the United States, respectively. C) the difference between the interest rates offered by dollar and euro deposits will equal the difference between the inflation rates expected, over the relevant horizon, in the United States and Europe, respectively, in the short run. D) the difference between the interest rates offered by dollar and euro deposits will be above the difference between the inflation rates expected, over the relevant horizon, in the United States and Europe, respectively. E) the difference between the interest rates offered by dollar and euro deposits will be below the difference between the inflation rates expected, over the relevant horizon, in the United States and Europe, respectively.
Special-interest groups have little incentive to
a. earn profits b. redistribute wealth c. lobby Congress d. make the economy more efficient e. seek regulation beneficial to them
Which of the following usually results from high rates of unemployment?
a. decreased social tensions b. increased stock prices c. decreased political turnover during elections d. decreased potential output of goods