An adverse supply shock with a vertical supply of labor curve will
A) raise the price level and leave unemployment unchanged.
B) raise unemployment and lower the price level.
C) raise both unemployment and the price level.
D) lower both unemployment and the price level.
A
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As a result of moving more decision making from the center toward the periphery of the organization, typically
a. the flow of relevant information to the decision maker should be enhanced b. the flow of relevant information from the decision maker should be enhanced c. the incentives to make good decisions can be weakened d. the reporting of information that is required to make the decision can be relaxed
George and Dick's used car lot has a total revenue of $5 million, fixed costs of $8 million, and variable costs of $6 million. In the short run the firm will ________, and in the long run it will ________.
A. shut down; go out of business B. shut down; stay in business C. operate; stay in business D. operate; go out of business
The aggregate supply curve shows the relationship between the ____ and the ____, holding all other factors constant.
A. price level; quantity of real GDP supplied B. price level; supply of nominal GDP C. nominal GDP; price level of real GDP D. price level; amount of nominal GDP supplied
Exports are domestically produced goods and services
A) sold to other countries. B) sold to the government. C) sold at home. D) which are used to produce other goods and services.