Refer to the above figure. If the aggregate demand curve shifts beyond AD5, then the economy will experience
A) stagflation. B) demand-pull inflation.
C) structural inflation. D) cost-push inflation.
B
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In August 2015, the U.S. unemployment rate was highest for
A) whites. B) high school dropouts. C) Hispanics. D) African Americans. E) Asians.
Under the price-specie-flow mechanism, what happens when, say, Germany's current account surplus is greater than its non-reserve capital account deficits?
A) German loans will finance all foreign net imports. B) Automatic drop in German domestic prices and rise in foreign prices. C) Gold reserves will flow into Germany. D) Gold reserves will flow out of Germany. E) Germany will experience a deficit.
If the demand for labor is plotted against the money wage, with the money wage on the vertical axis, then
a. an increase in the price level will cause the labor demand schedule to shift to the right. b. an increase in the money wage will cause the labor demand schedule to shift to the left. c. an increase in the money wage will cause the labor demand schedule to shift to the right. d. the labor demand schedule will be upward sloping.
What do economists mean by "consumer equilibrium?"