Economic growth due to labor force expansion or capital investments will result in I. A leftward shift of short-run aggregate supply. II. A rightward shift in long-run aggregate supply
A) I only
B) II only
C) Both I and II
D) Neither I nor II
B
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A mismatch between the geographic location of workers and the location of job openings would result in which type of unemployment?
A. wait B. cyclical C. structural D. frictional
Indexing Social Security payments is done using the:
A. CPI. B. PPI. C. GDP deflator. D. RPI.
Which economist made the following statement: "Every major contraction in the U.S. economy has either been created or greatly exacerbated by monetary instability. Every major inflation has been caused by monetary expansion."
a. Milton Friedman b. John Maynard Keynes c. Adam Smith d. Paul Samuelson
According to the rule of 72, a savings account with an interest rate of 12 percent will double in value in approximately:
A. 10 years. B. 6 years. C. 3 years. D. 8.5 years.