Refer to Figure 8.2. Holding other variables constant, an increase in the real wage will result in a
A) movement from point A to point B.
B) movement from point B to point A.
C) shift from curve S1 to curve S2.
D) shift from curve S2 to curve S1.
A
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If nominal GDP increases, which of the following will always take place?
A) Output will have increased but prices will have fallen or remained the same. B) Prices will have increased but output will have fallen or remained the same. C) Both output and prices will have increased. D) none of the above
Unemployment refers to a situation in which an individual: a. prefers part-time work rather than full-time work
b. has given up looking for a job because he is discouraged about his prospects. c. is looking for a job but is unable to find one. d. is jobless and also not looking for a job.
The major factor affecting a nation's balance of payments is
A) an increase in its rate of unemployment. B) its rate of inflation relative to the rate of inflation of its trading partners. C) a change in the productivity of its labor. D) its stock market movements.
A price-discriminating pure monopolist will attempt to charge each buyer (or group of buyers):
A. different prices to compensate for differences in the characteristics of the product. B. the price that equals the buyer's marginal cost. C. the maximum price each would be willing to pay. D. the same price if per-unit cost is constant for each unit of the product.