Use the following graphs to answer the next question.
In the graphs, the numbers in parentheses near the AD1, AD2, and AD3 labels indicate the levels of investment spending associated with each curve. All figures are in billions. A shift in the aggregate demand curve from AD3 to AD2 can be achieved by Federal Reserve action to ________.
A. buy government securities in the open market
B. increase the reserve requirement
C. sell government securities in the open market
D. increase the discount rate
Answer: A
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A business enterprise in which employees must belong to the union before they can be hired is
A) a closed shop. B) a union shop. C) a jurisdictional dispute. D) an industrial union.
When demand is ____ a percentage change in ____ is exactly offset by the same percentage change in ____ demanded, the net result being a constant total consumer expenditure
a. elastic; price; quantity b. unit elastic; price; quantity c. inelastic; quantity; price d. inelastic; price; quantity e. none of the above
All of the following are characteristics of less-developed countries except
a. a high birth rate b. low population growth c. dependence on natural resource exports d. increasing GDP per capita e. inadequate infrastructure
Refer to the diagram. If an inclusive union seeks to maximize the number of jobs available for its members, what wage rate will it seek to impose on the monopsonist?
A. D minus A.
B. F.
C. C.
D. B.