A persistent decline in the price level resulting from economic growth in the presence of stable aggregate demand is known as
A) secular deflation. B) the interest rate effect.
C) the real balance effect. D) demand-side deflation.
A
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Jasime voluntarily quit her job and is now searching for a new position. Jasime is classified as a
A) job loser. B) job reentrant. C) job leaver. D) new entrant.
Codetermination refers to
a. allowing worker participation but only at the shop floor. b. allowing representatives of labor on management boards. c. turning trade unions into company unions. d. the alliance between government and labor unions in Germany. e. all of the above.
Which of the following statements about the price elasticity of demand is correct?
a. The price elasticity of demand for a good measures the willingness of buyers of the good to buy less of the good as its price increases. b. Price elasticity of demand reflects the many economic, psychological, and social forces that shape consumer tastes. c. Other things equal, if good x has close substitutes and good y does not have close substitutes, then the demand for good x will be more elastic than the demand for good y. d. All of the above are correct.
The level of government payments ________ as prices fell and costs ________ in the 1980s, and ________ dramatically as prices rose in the 2000s
Fill in the blank(s) with correct word