If inflation and unemployment is rising at the same time, then this is most likely the result of a shift
a. downward in the aggregate demand schedule.
b. upward in the aggregate demand schedule.
c. downward in the aggregate supply schedule.
d. upward in the aggregate supply schedule.
e. none of the above can explain this
C
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What will happen to the equilibrium price and equilibrium quantity of ice cream cones when consumers' incomes decrease?
A) If ice cream cones are a normal good, then the equilibrium price and quantity of ice cream cones will decrease. B) If ice cream cones are a normal good, then the equilibrium price and equilibrium quantity of ice cream cones will increase. C) If ice cream cones are an inferior good, then the equilibrium price for an ice cream cone will increase and the equilibrium quantity of ice cream cones will decrease. D) If ice cream cones are an inferior good, then the equilibrium price and quantity of ice cream cones will decrease.
Intraindustry trade is characterized by what two features?
What will be an ideal response?
Refer to the above figure. Which panel represents what happens in the foreign job market in the short-run when U.S. firms substitute labor outside of the U.S. for labor inside the U.S.?
A) Panel A B) Panel B C) Panel C D) Panel D
Which of the following statements about the real goods market is not true?
a. Among the most important factors influencing the shape of the aggregate supply curve is the nation's rate of resource utilization. b. Among the key indicators that provide clues about where a nation is on its aggregate supply curve is the unemployment rate. c. If the nation were near the Keynesian range, a strong increase in real GDP would be accompanied by relatively weak rise in the price index. d. In the classical range, a significant increase in real GDP is accompanied by a relatively small increase in the price index. e. All of the above are true.