Discouraged workers are not counted as unemployed because they are working
Indicate whether the statement is true or false
False
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
Compared to stocks, bonds offer the holder
a. lower risk and lower potential return. b. lower risk and higher potential return. c. higher risk and lower potential return. d. higher risk and higher potential return.
The classicals, applying Say's law, believed that all our income would be _______, all our production would be _______ and all our savings would be ________.
Fill in the blank(s) with the appropriate word(s).
If a tax (paid by consumers) is levied on a good, this would
A. move its demand curve to the right. B. cause a movement along the demand curve to a (higher price, lower quantity) point. C. move its demand curve to the left. D. cause a movement along the demand curve to a (lower price, higher quantity) point.