If at a particular price level, real output from producers is greater than real output desired by purchasers, then there will be a general ________.
A. shortage and the price level will fall
B. shortage and the price level will rise
C. surplus and the price level will fall
D. surplus and the price level will rise
Answer: C
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Which of the following is NOT correct regarding the status of U.S. labor unions?
A) Today fewer than one in eight workers is a union member. B) A key reason for the decline in union membership is the relative decline in manufacturing jobs as a share of total employment. C) Greater domestic and global competition has had a part in bringing about a decline in unions. D) Global trade has increased the number of union members in the United States.
Specialization is not affected by the geography of an area
a. True b. False Indicate whether the statement is true or false
According to the quantity theory of money, if the money supply increases by 12 percent, then in the long run, prices go:
A. up by less than 12 percent. B. up by 12 percent. C. down by 12 percent. D. up by more than 12 percent.
Which of the following would cause an increase in the demand for U.S. dollars?
A. An interest rate cut in the United States B. An interest rate cut in Europe C. An interest rate increase in Europe D. A recession in Europe