Rising nominal GDP will increase the demand for money and short-term interest rates
Indicate whether the statement is true or false
TRUE
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In the above figure, what are the long-run equilibrium price level and real GDP?
A) 130 and $11.5 trillion B) 120 and $11.5 trillion C) 120 and $12 trillion D) 130 and $12 trillion
An increase in taxes on labor income shifts the labor supply curve ________, and the ________
A) leftward; after-tax wage rate falls B) rightward; before-tax wage rate rises C) leftward; before-tax wage rate does not change D) leftward; after-tax wage rate rises E) leftward; after-tax wage rate does not change
According to the Equal Pay Act of 1963, men and women who work for the same employer must receive the same pay in which of the following situations?
a. When they perform the same amount and type of work b. When they have been employed for the same length of time c. When they have the same level of experience and education d. When they perform similar tasks and have similar responsibilities
A government-sponsored good is one that
A) everybody is willing to support with funding contributions. B) is inherently valuable. C) the political process has determined socially desirable. D) everybody will receive concrete benefits from.