Suppose that the government decreases its expenditures on goods and services. Within the AS-AD model, the result will be __________ in real GDP and __________ in the price level.
a) an increase; an increase
b) an increase; a decrease
c) a decrease; and increase
d) a decrease; a decrease
d) a decrease; a decrease
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The formula for the computation of labor productivity is
A) nominal GDP/number of workers. B) real GDP/number of workers. C) nominal GDP/population. D) real GDP/population.
In the research that used the audit method to send out 5,000 realistic-looking resumes for advertised jobs in Boston and Chicago, which of the following was one of the results?
A) White names received roughly the same number of interview requests as black names. B) High-quality resumes with black names received no more interview requests than low-quality resumes with black names. C) High-quality resumes with white names received roughly the same number of interview requests as low-quality resumes with white names. D) All of the above reflect the results of the research.
The number of sellers in an industry, in part, defines its market
a. performance b. standard c. demand curve d. structure e. profile
Which statement is false?
A. The 1990s was one of the most prosperous decades in the United States' history. B. The United States' economy reached its tenth year of steady expansion in the spring of 2001. C. Compared to other decades, the 1990s was a decade was unique in that it had strong economic growth with no recessions. D. At the end of the 1990s, the government was running budget surpluses.