An increase in the quantity demanded is shown by
A) a leftward shift of the demand curve.
B) a rightward shift of the demand curve.
C) a movement down along a demand curve.
D) a movement up along a demand curve.
C
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The relationship between the AS-AD model and the Phillips curve points out that as aggregate demand increases, the unemployment rate
A) decreases and the price level falls. B) increases and the inflation rate rises. C) increases and the inflation rate falls. D) decreases and the inflation rate does not change, only the price level rises. E) decreases and the inflation rate rises.
Summing up governmental intervention in the pricing of goods, we can say it
a. occurs only under wartime conditions b. has grown considerably during the past two decades and now characterizes the majority of our markets c. has peaked in the 1970s and now has only a shadow of its former influence d. occurs in relatively few markets because most market prices are determined by the forces of demand and supply e. occurs only in the production of farm goods
Which of the following has not occurred in the United States over the last two decades?
A. A fall in real wages B. An increase in labor-force participation C. Growth in service sector employment D. A decrease in the wage differentials between colleges grads noncollege grads.
When oligopolistic firms in an industry form a cartel, then it is most likely that
A. both industry output and prices will decrease. B. both industry output and prices will increase. C. industry output will decrease while prices will increase. D. industry output will increase while prices will decrease.