Inflation and unemployment
A. are a focus of microeconomics.
B. are the focus of normative economics.
C. are a focus of positive economics.
D. are a focus of macroeconomics.
Answer: D
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Which of the following will cause the long-run aggregate supply curve to shift? I. Changes in technology II. Changes in government spending III. Changes in the money supply
A) I only B) II only C) I, II, and III D) only I and II
Autonomous consumption is the level of consumption that is
A) consistent with the average standard of living. B) observed at the poverty line. C) independent of real income. D) available to someone earning the minimum wage.
If increases in capital per worker lead to increased output per worker, but by decreasing amounts as capital increases, the per-worker production function _____
a. is vertical b. has a decreasing slope c. has an increasing slope d. has a negative slope e. is horizontal
New inventions may displace some workers, but generally lead to the growth of jobs in new industries
a. True b. False Indicate whether the statement is true or false