If the price level was lower than the equilibrium price level, then aggregate quantity supplied is __________ aggregate quantity demand.
Fill in the blank(s) with the appropriate word(s).
less than
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If the economy enters a recession
A) frictional unemployment increases. B) structural unemployment decreases. C) cyclical unemployment increases. D) the number of workers on layoff decreases.
If a nation is going to achieve its full potential, it must have
A) a low rate of savings and a high rate of current consumption. B) a mechanism to attract savings and channel them into productive investment projects. C) low real interest rates. D) a central planning agency to allocate investment funds.
Refer to the information provided in Figure 6.5 below to answer the question(s) that follow.
Figure 6.5Refer to Figure 6.5. Molly's budget constraint is BD. If the price of CDs decreases, her new budget constraint becomes
A. CD. B. AD. C. EF. D. AO.
What is one way that the trade deficit of the United States is financed?
A. By U.S. buying real assets abroad B. By selling real assets of the U.S. to foreign buyers C. By borrowing from U.S. citizens D. By lending from U.S. banks