Shortages are the same thing as excess:
A.) Supply caused by price floors.
B.) Supply caused by price ceilings.
C.) Demand caused by price floors.
D.) Demand caused by price ceilings.
D.) Demand caused by price ceilings.
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In Figure 4-10 above, expansionary fiscal policy accommodated by the Fed can be pictured as a movement from points
A) A to D. B) A to C. C) D to B. D) B to D. E) A to B.
A monopolistically competitive industry may feature
a. excess capacity. b. extraordinary profits. c. product differentiation. d. All of the above are correct. e. Only b and c are correct.
If wages rise by 12 percent at the same time prices rise by 3 percent, then the increase in real wages is equal to
A. 12 percent. B. 9 percent. C. 6 percent. D. 3 percent.
Use the following table to answer the next question.YearUnemployment Rate (%)Inflation Rate (%)14.03.024.52.535.02.045.53.056.04.5Based on this data, the Phillips curve is ________.
A. of indeterminate slope B. downward sloping C. vertical D. upward sloping