Which of the following changes would NOT shift the aggregate demand curve?
A) a change in fiscal policy
B) a change in monetary policy
C) a change in expectations about future income
D) an increase in technology
D
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Nominal GDP has risen faster than real GDP in the last decade because: a. the price level has increased
b. the price level has decreased. c. the growth rate of productivity has accelerated. d. the volume of foreign trade has expanded sharply.
Relative to nonunion wages, one reason union wages are
A. Lower is because unions exclude workers from the market, which hurts their ability to raise wages. B. Higher is because unions are more likely in capital-intensive industries where wages tend to be higher. C. Higher is because unions have workers that contribute more to society. D. Lower is because the percentage of the workforce that is unionized is declining.
Which one of the following statements is true?
A. Money flows from households to firms for resources. B. Money flows from households to foreign economies for exports. C. Money flows from government to firms for resources. D. Money flows from firms to households for resources.
How is utility defined?
A. ease of use B. government provided goods like electricity C. the satisfaction experienced from consuming a good D. the change in benefit from producing one additional unit of a good