A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only.
B. aggregate demand curve only.
C. aggregate demand curve, and the short-run aggregate supply curve would shift in response.
D. short-run aggregate supply curve and the long-run aggregate supply curve.
Answer: A
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Which of the following assigns widely-followed bond ratings?
A) Standard & Poor's Corporation B) Securities and Exchange Commission C) Federal Reserve D) IBM
The effects of unionization on wages in the sectors of the economy that are unionized causes the supply of labor in other sectors of the economy to
a. decrease, raising wages in industries that are not unionized. b. decrease, reducing wages in industries that are not unionized. c. increase, raising wages in industries that are not unionized. d. increase, reducing wages in industries that are not unionized.
Suppose that the percentage change in supply is 20%, the price elasticity of supply is 2, and the percentage change in the equilibrium price is 4%. What is the price elasticity of demand?
A. 0 B. 1 C. 2 D. 3
Between 1992 and 1999, the employment rate for single mothers in the United States:
A. increased by 15 percentage points. B. decreased by 19 percentage points. C. remained fairly constant. D. more than doubled.