An increase in the price level will
A) shift the short-run aggregate supply curve to the left.
B) shift the short-run aggregate supply curve to the right.
C) move the economy up along a stationary short-run aggregate supply curve.
D) move the economy down along a stationary short-run aggregate supply curve.
Answer: C
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Compared to the price of long-distance telephone calls, college tuition in the United States has
a. fallen. b. risen. c. stayed the same. d. risen at the same rate as the CPI.
Look at the following data: The structural unemployment rate is 4 percent, the natural unemployment rate is 5 percent, and the cyclical unemployment rate is 3 percent. The frictional unemployment rate is ____________ percent and the actual unemployment rate is __________ percent
A) 2; 7 B) 2; 8 C) 1; 7 D) 1; 8
The Keynesian link between the money market and the goods and services market is __________. Changes in the money market must affect the __________ market before the goods and services market is affected
A) direct; credit B) indirect; labor C) indirect; investment goods D) direct; stock E) none of the above
Refer to the payoff matrix. Bob's Burgers and Sam's Sandwiches are competing restaurants in a small town. Both are considering adding pizza to their line of products. If this is a sequential game:
A. whoever moves first to add pizza will discourage the other from adding pizza.
B. neither firm will add pizza, regardless of who moves first.
C. both firms will add pizza, regardless of who moves first.
D. there is only one possible Nash equilibrium for this game.