If wages or prices of other inputs change, the aggregate supply curve will shift to another position
a. True
b. False
Indicate whether the statement is true or false
True
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One of the main causes of economic inequality in Latin America is the
A) failure of governments to support urban consumers. B) lack of progress in raising agricultural productivity. C) lack of governmental interest in solving the problem of inequality. D) focus of governments on agricultural exports to the detriment of food production. E) oil crisis of the 1970s.
What is considered the most relevant interest rate when conducting monetary policy?
A. Short-term nominal interest rate B. Long-term nominal interest rate C. Annual nominal interest rate
Hailey worked for Autonation and was laid off when car sales fell during a recession with falling incomes. This is an example of
A. cyclical unemployment. B. seasonal unemployment. C. frictional unemployment. D. structural unemployment.
During the recession of 2009, the consumption function temporarily shifted ________ as a fall in house prices ________ wealth and encouraged people to ________ more
A) downward; raised; spend B) downward; raised; save C) upward; lowered; save D) downward; lowered; save E) downward; lowered; spend