Refer to the following graph to answer the question:
Suppose price rises from $90 to $110. Using representative arrows, the price effect is a relatively ________ (short, long) arrow pointing ________ (upward, downward).
A. long; downward
B. short; upward
C. short; downward
D. long; upward
Answer: B
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A plan to revitalize the downtown area of a struggling city would fulfill which of the following goals to address poverty and inequality?
A. Safety nets B. Economic development C. Redistribution D. None of these is true.
A rise in the price of a bond causes the yield of the bond to
A) rise. B) fall. C) remain unchanged. D) rise if it's a short-term bond, fall if it's a long-term bond.
Suppose than an economy has output Y = A , that Y equals $12 trillion, capital K is $27 trillion, and labor L is 64 million workers. Given this information, what is the closest approximation of total factor productivity A?
A) less than 0.01 B) around 0.25 C) roughly 0.33 D) close to 0.4 E) exactly 144
In the AD/AS diagram, what type of unemployment is shown by how close the economy is to the potential or full-employment level of GDP?
a. Natural b. Structural c. Cyclical d. Full