"Job rationing occurs when the quantity of labor demanded exceeds the quantity supplied." Is the previous statement true or false? Explain your answer
What will be an ideal response?
The statement is false. Job rationing occurs when the quantity of labor supplied exceeds the quantity demanded. In this circumstance, jobs must be apportioned—rationed—among the people willing to work.
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Use the following graph to answer the next question. 
Which of the following statements is correct on the basis of the information shown?
A. The GDP price index equals 100 in 2000. B. The GDP price index is less than 100 in 2010 C. The GDP price index is greater than 100 in 1990. D. Without additional data, the value of the GDP price index cannot be known for any year in the graph above.
In the circular flow model, which of the following is on the selling side in the goods market?
A) federal, state, and local governments B) only households C) exporters D) only firms E) both firms and households
If a principle is reducing agency costs by gathering information about the agent's actions, he is most likely trying to solve the problem
a. Adverse selection b. Moral hazard c. Both of the above d. None of the above
When current production of goods and services in an economy is greater than planned aggregate expenditure, _____
a. inventories of goods and services will increase b. firms will increase production to replenish depleted inventories c. businesses and households will increase planned aggregate spending d. the price level will automatically rise to restore equilibrium in the economy e. leakages must equal planned injections