Figure 10-13
In , which of the following would most likely cause the movement from point e2 to point E2?
a.
higher wages and resource prices
b.
lower interest rates
c.
an increase in aggregate demand
d.
a technological advance
a
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If aluminum producers expect aluminum prices to fall in the future, this belief shifts the current ________ curve for aluminum to the ________
A) supply; left B) demand; left C) demand; right D) supply; right E) None of the above is correct.
What is meant by consumer sovereignty?
What will be an ideal response?
If workers believe that government policymakers will increase aggregate demand to avoid a politically unpopular increase in unemployment when workers demand higher wages, then workers will not fear higher unemployment and their wage demands will
result in A) demand-pull inflation. B) hyperinflation. C) deflation. D) cost-push inflation.
Which of the following is the closest example of structural unemployment?
a. An accountant quitting her job to become an investment banker b. An auto worker being fired for poor job performance c. Workers in a firm manufacturing films for roll film cameras losing jobs due to the popularity of digital cameras d. A consultant being laid off because poor economic conditions have depressed the market for consultants e. A college graduate seeking his/her first job in the IT industry