If an increase in investment causes an increase in real output beyond the full-employment level, the result will be
A. An increase in undesired inventories.
B. An increase in the recessionary GDP gap.
C. Cost-push inflation.
D. Demand-pull inflation.
Answer: D
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With regard to agricultural productivity (grain crops) in the post-Civil War period (1870–1910),
(a) output per acre went up significantly. (b) output per man-hour went up significantly. (c) output per unit of energy input went up significantly. (d) all of the above occurred.
Government actions that create monopolies
A) spur product innovation by the monopoly. B) create deadweight loss. C) result in lower average costs of production. D) ensure that firms price at marginal cost.
A rightward shift in a demand curve and a leftward shift in a supply curve both result in a
A. Higher equilibrium price. B. Lower equilibrium price. C. Lower equilibrium quantity. D. Higher equilibrium quantity.
If a person without a job is not actively looking for work, that person is classified as not being in the labor force.
Answer the following statement true (T) or false (F)