What are the five variables that will shift the demand curve?
What will be an ideal response?
1. Income
2. Price of related goods
3. Tastes
4. Population and demographics
5. Expected future prices
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Involuntary part-time workers are:
A. discouraged workers. B. counted as unemployed. C. considered out of the labor force. D. counted as employed.
The marginal utilities associated with the first 5 units of consumption of good Y are 15, 15, 10, 7, and 3, respectively. What is the total utility associated with those 5 units?
a. 5. b. ?12. c. 12. d. 35. e. 50.
The short-run aggregate supply curve shows the relationship between ____ and ____, holding all other factors constant
a. a price level, the quantity of real GDP supplied b. price level, the supply of real GDP c. nominal GDP, the price level of real GDP d. the quantity of nominal GDP supplied, the price level
Which of the following is considered a problem with active policy?
a. Estimating the potential output b. Forecasting aggregate demand c. Tools must already be in place to achieve results relatively quickly. d. All of the above are problems with the implementation of active policy