Recall the Application. According to the authors, what explained virtually all of the employment gains that occurred nationally?
A) a strong economy B) a weak economy
C) increases in unemployment benefits D) decreases in unemployment benefits
D
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Which is NOT an example of signaling high quality in a social setting
a. wearing a business suit on a job interview b. scrimping on the tip for the waiter after a dinner date c. offering an expensive engagement ring to your bride d. Visiting the beauty salon before a big date
The law of marginal diminishing returns
A) is found everywhere. B) is found only in manufacturing. C) is found only in developed economies. D) is the same as the law of diminishing marginal utility.
Events like war shift the long-run aggregate supply curve of an economy to the right
a. True b. False Indicate whether the statement is true or false
Refer to the above diagram. When output decreases from Q1 and the price level increases from P1, then this change will:
A. be caused by a shift in the aggregate supply curve from AS1 to AS3. B. result in a movement along the aggregate demand curve from e2 to e1. C. be caused by a shift in the aggregate supply curve from AS2 to AS1. D. result in a movement along the aggregate demand curve from e1 to e2.