An increase in the money wage rate
A) increases the long-run aggregate supply.
B) decreases the long-run aggregate supply.
C) increases the short-run aggregate supply.
D) decreases the short-run aggregate supply.
D
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GDP can be measured as each of the following except:
A. total business revenues. B. total expenditure on final goods and services. C. the market value of production. D. incomes of capital and labor.
The International Monetary Fund, one of the Bretton Woods Institutions,
(a) was meant to provide short-term credit. (b) was meant to provide long-term credit. (c) was meant to provide both short- and long-term credit. (d) was not meant to provide credit.
The component of aggregate expenditure that is not like other components because, in general, it is directly neutral to macroeconomic changes is:
A. consumption spending. B. investment spending. C. government spending. D. net export spending.
Extremely large budget deficits may lead to
a. low inflation. b. low employment. c. high unemployment. d. high inflation.