In the view of the new classical economists, an increase in the money stock will affect real output and employment only if the increase in the money stock
a. was caused by an aggregate supply shock.
b. is accompanied by an expansionary fiscal policy shift.
c. was anticipated.
d. was unanticipated.
D
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Which of the following would cause a shift in the demand curve for a good?
a. An increase in consumers' income. b. A decrease in the number of consumers. c. The expectation that the price of a good will increase in the future. d. All of these.
Disposable income:
What will be an ideal response?
A ______ economy is an economy in which the government uses central planning to coordinate most economic activities
a. traditional b. command c. mixed d. market
The figure given below represents the effects in the labor markets due to migration. Here the world has been divided into a high-income "North" (left panel) and a low-income "South" (right panel). Dn and Sn are the labor demand and the labor supply curves in North. Ds and (Sr + Smig) are the labor demand and pre-migration labor supply curves in South. Sr is the post-migration labor supply curve in South. The value c is the cost of migrating.
After migration of the workers, the workers in North earn ________ per hour and South workers earn ________ per hour.
A. $6.75; $3.00 B. $8.00; $3.00 C. $8.00; $4.25 D. $6.75; $4.25