When the demand curve shifts to the right and supply doesn't change:
A. supply will rise.
B. equilibrium quantity will rise.
C. equilibrium price will fall.
D. quantity demanded will rise.
Answer: B
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In the United States over the last 50 years,
A) the labor force participation rate for women has increased to match that for women in other developed countries. B) the labor force participation rate for women has increased to near 60 percent. C) the change in men's labor force participation rate explains the behavior of the unemployment rate. D) both women's and men's labor force participation rates have increased due to technology. E) women's earning power has remained fairly constant.
In the 1970s, the Fed selected an interest rate as an operating target rather than a reserve aggregate primarily because it
A) had no interest in targeting a monetary aggregate, as evidenced by its unwillingness to target a reserve aggregate. B) was still very concerned with achieving interest rate stability. C) was committed to targeting free reserves. D) was committed to the real bills doctrine.
If the graph shown is displaying a competitive market and the market is currently offering a wage less than P*:
A. firms will have a hard time finding employees. B. there would be excess workers who want to work at that wage. C. there would be unemployment in the market. D. firms would be forced by government to adjust their wages back to equilibrium.
Which of the following statements is correct?
A. The price support program hastened the exodus of resources from agriculture. B. The main beneficiaries of government price support assistance were the very low-income farmers. C. If the demand for agricultural products is inelastic, a relatively small decrease in supply will increase gross farm incomes. D. There is a misallocation of resources in rural America because of absolute and relative increases in the size of the farm population.