Countries in which wages adjust slowly to changes in the supply of and demand for labor are likely to have ________ sacrifice ratio
A) an infinite
B) a high
C) a low
D) a zero
B
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Use the following diagrams to answer the next question.
Which of the diagrams represents the short-run Phillips Curve?
A. Graph A B. Graph B C. Graph C D. Graph D
The concept of depreciation while widely employed, has little economic basis
a. True b. False
The rapid speed with which the stimulus bill passed through both houses of Congress and was signed by the President could be used as an argument for
A. activist fiscal policy. B. activist monetary policy. C. expansionary fiscal policy. D. contractionary monetary policy.
If a typical firm in a perfectly competitive industry is earning profits, then
A) all firms will continue to earn profits. B) new firms will enter in the long run causing market supply to decrease, market price to rise, and profits to increase. C) new firms will enter in the long run causing market supply to increase, market price to fall, and profits to decrease. D) the number of firms in the industry will remain constant in the long run.