Which of the following factors is expected to cause the demand curve for coffee to shift to the right?
A) An increase in the supply of coffee due to better weather
B) A higher personal tax on the income of all consumers
C) A fall in the manufacturing cost of coffee
D) A higher tax on the sale of tea, a substitute for coffee
D
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If the cyclical rate of employment equals -1 percent and the actual rate of unemployment equals 8 percent, then the natural rate of unemployment must equal:
A. 7 percent. B. 12.5 percent. C. 9 percent. D. -7 percent.
From 8 to 11
A) going to the symphony and the basketball game. B) going to the symphony. C) going to the basketball game. D) three hours of time.
A recent development in the RBC literature is the growing admission of the possible importance of
A) nominal variables. B) real demand shocks. C) favorable supply shocks. D) changes in monetary policy. E) technological changes.
If the government regulates the price a monopoly can charge, and the price ceiling is set below what the competitive market price would be, then
A) a shortage will exist. B) a surplus will exist. C) producer surplus is maximized. D) consumer surplus is maximized.