If the price of output increases, the labor ________ curve shifts to the ________.
A. demand; left
B. demand; right
C. supply; left
D. supply; right
Answer: B
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The impact lag is the time between
A) a change in the money supply and a change in interest rates. B) a change in the money supply and a change in GDP. C) the use of a Federal Reserve tool and its effect on GDP. D) the use of a Federal Reserve tool and its effect on the money supply.
The purchasing power parity hypothesis implies that an increase in inflation in one country relative to another will over a long period of time
a. increase exports b. reduce the competitive pressure on prices c. lower the value of the currency in the country with the higher inflation rate d. increase foreign aid e. increase the speculative demand for the currency
A university's football stadium is always sold out, and students who wait in line for hours may be turned away. This indicates
a. the ticket price is above the equilibrium price. b. the ticket price is below the equilibrium price. c. the ticket price is at the equilibrium price. d. nothing about the equilibrium price.
Which of the following is an example of a market demand curve?
a. A graph shows the sharp increase in the purchase of cell phones last year in France. b. A graph shows how Li’s demand for tea decreases as the price increases. c. A table shows the steady increase in the price of bananas over a five-year period in the United States. d. A graph shows how the demand for HD TVs in Hawaii is affected by price changes.