The phantom unemployed are
A. Discouraged and cause the unemployment statistic to understate the level of unemployment.
B. Not part of the labor force because they do not desire to work.
C. Unemployed and cause the unemployment statistic to overstate the level of unemployment.
D. Classified as cyclically unemployed.
Answer: C
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
In the economic way of thinking,
A) buyers compete against other buyers, sellers cooperate with other sellers, and buyers cooperate with sellers. B) buyers cooperate with other buyers, sellers cooperate with other sellers, and buyers compete with sellers. C) buyers compete against other buyers, sellers compete against other sellers, and buyers cooperate with sellers. D) buyers cooperate with other buyers, sellers cooperate with other sellers, and buyers cooperate with sellers.
Specifically, what might cause the quantity demanded of a particular good to double at a particular price?
What will be an ideal response?
Answer the next question based on the following list of factors that are related to the aggregate demand curve. 1) Real-Balances Effect2) Household Expectations3) Interest-Rate Effect4) Personal Income Tax Rates5) Profit Expectations6) National Income Abroad7) Government Spending8) Foreign Purchases Effect9) Exchange Rates10) Degree of Excess CapacityChanges in which two of the factors would most likely cause a shift in aggregate demand due to a change in consumer spending?
A. 1 and 3 B. 8 and 9 C. 2 and 4 D. 2 and 10