Refer to Exhibit 9-7. Which point is representative of the economy experiencing labor market surpluses?
Ans: Point A
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Based on the table and information in the previous question, which of the following is TRUE?
A) George prefers to make $15,000 with certainty than make the investment. B) George prefers making the investment than to make $15,000 with certainty. C) George is indifferent between making $15,000 with certainty and making the investment. D) As the investment has risk George should not make it under any circumstances.
Suppose real money demand is 1000, real output is 6000, and the price level is 200. What is the level of velocity in this economy?
A) 2 B) 3 C) 6 D) 12
In the last 15 years, the U.S. Lorenz curve has
a. become a straight line b. become a decreasing curve c. moved closer to the diagonal d. moved further from the diagonal e. not shifted but there has been an upward movement along the curve
In the late 1990s, the more than expected increases in tax revenues were the result of
a. rapid economic growth. b. rapid increases in the national debt. c. rising rates of inflation, and therefore, nominal incomes. d. rising balance of trade surpluses and the import duties they generated.