Which would most likely increase aggregate supply?
a. An increase in productivity
b. An increase in the prices of imported products
c. A decrease in net exports
d. A decrease in business subsidies
a. An increase in productivity
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The rate of unemployment can be calculated by
a. simply dividing all unemployed persons by all employed persons. b. subtracting those employed from the total labor force to find the number of unemployed and express this number as a percent of the total labor force. c. subtract those unemployed from the total labor force and express this number as a percent of the total labor force. d. dividing all unemployed by the population.
In a simplified circular flow model with no government, in equilibrium, S = I + (X ? IM)
a. True b. False Indicate whether the statement is true or false
The Phillips curve implies a trade-off between interest rates and unemployment.
Answer the following statement true (T) or false (F)
Define the four basic types of trade barriers.
What will be an ideal response?