As the price of a good falls,
A. the consumer surplus rises.
B. the consumer surplus falls.
C. the consumer surplus may rise or fall.
D. A change in price will not affect consumer surplus.
A. the consumer surplus rises.
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
Which of the following would decrease the natural rate of unemployment?
A) a decrease in government-sponsored programs that train unemployed workers so they can find new jobs quickly B) an increase in the generosity of unemployment insurance programs C) fewer restrictions on unions to negotiate wage changes with companies D) a decrease in the number of younger, less skilled workers in the economy
Types of money used by colonists included all of the following except:
a. gold and silver coins. b. bills of exchange. c. bills of credit. d. government-issued fiat currency.
Which of the following variables is most directly determined in the labor market?
A) stock prices B) nominal wages C) interest rates D) all of the above E) none of the above