Figure 9-2
When an economy is experiencing the aggregate demand and supply conditions depicted in ,
a.
the actual rate of unemployment will equal the natural rate of unemployment.
b.
buyers and sellers will have correctly anticipated the level of prices P1.
c.
the output y1 will tend to persist into the future unless market conditions change.
d.
all of the above are correct.
d
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Which of the statements below best explains how the use of money in an economy adds to the wealth of the society using it? Money creates wealth
A) because it is capital. B) by earning interest. C) by making specialization less costly. D) insofar as it is invested rather than consumed.
In Obamacare (the Affordable Care Act) gives low-income families
A) vouchers for healthcare. B) subsidies to buy private healthcare insurance. C) full access to Medicaid. D) full access to Medicare..
Assume Bill's income to spend on the two goods in the graph shown is $48, and movie tickets cost $8. If Bill's budget constraint is one of the lines in the graph, which one must it be?
A. A
B. B
C. C
D. It could be line A or B.
Assume Alan's budget constraint is demonstrated by line A in the graph shown. Which of the following could cause Alan's budget constraint to change to line B?
A. Alan could have experienced a drop in income.
B. The price of books could have increased.
C. Alan could have decided he doesn't like going to the movies as much as he used to.
D. The price of movie tickets could have increased.