When the economy is going strong the:
A. demand for workers increases.
B. supply of workers increases.
C. demand for workers decreases.
D. supply of workers decreases.
A. demand for workers increases.
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Unanticipated inflation penalizes: a. those who are saving
b. those who are borrowing. c. governments. d. those who are in high-growth industries where wages are growing faster than prices. e. those who can't find jobs at any wage rate.
Which of the following will tend to occur if price floors are imposed on a product?
a. persistent surpluses b. problems of disposal of goods c. disguised discounts developing to eliminate excess production d. overinvestment in the industry e. All of the above are correct.
The economy is in equilibrium, TP = TE. Then, net exports fall. As a result, the __________ curve shifts __________, inventory levels unexpectedly __________, and business firms __________ the quantity of good and services they produce
A) TE; upward; rise; increase B) TP; rightward; rise; decrease C) TE; downward; rise; decrease D) TE; downward; rise; increase E) none of the above
Refer to the figure below.
If a price ceiling were imposed at $4, producer surplus would be:
A. $16. B. $8. C. $4. D. $24.