Which of the following would a macroeconomist most likely want to decrease?
a. economic growth
b. the labor force participation rate
c. the price level
d. unemployment
d. unemployment
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If the substitution effect dominates the income effect, then an increase in the wage rate will increase the quantity of labor supplied by an individual
a. True b. False
If there are no externalities present in a market
A) the market price is too low. B) the market price is too high. C) the market price is in equilibrium. D) none of these choices are true.
Business cycles are short-term fluctuations in the economy relative to the long- term trend in ______.
a. interest rates b. inflation c. output d. employment
For this question, assume that the Marshall-Lerner condition does not hold. An increase in the real exchange rate will tend to cause which of the following to occur?
A) a reduction in NX and a reduction in Y B) a reduction in NX and an increase in Y C) an increase in NX and a reduction in Y D) an increase in NX and an increase in Y