When the unemployment rate is below the natural rate of unemployment...
What will be an ideal response?
real GDP is greater than potential GDP
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Macroeconomics stresses
A. resource allocation and income distribution. B. inflation and unemployment. C. resource allocation and inflation. D. unemployment and income distribution.
The labor supply curve facing an individual employer in a perfectly competitive labor market is:
A. upward sloping. B. downward sloping. C. horizontal. D. the MRP curve.
A highly active role by government may be needed to promote economic growth in low-income DVCs because of:
A. a lack of infrastructure. B. rigid law enforcement in the country. C. excessive local entrepreneurship. D. all these reasons.
Refer to the information provided in Figure 27.1 below to answer the question(s) that follow.
Figure 27.1Refer to Figure 27.1. An aggregate demand shift from AD2 to AD0 can be caused by
A. a decrease in taxes. B. a decrease in the price level. C. a decrease in money supply. D. an increase in the price level.