During the period from 1950 to 2000, the Labor Force Participation Rate
A. remained remarkably constant.
B. increased due largely to teens entering the labor force.
C. fell.
D. increased due largely to women entering the labor force.
Answer: D
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Assuming an economy starts in long-run equilibrium, if the aggregate demand curve were to decrease:
A. prices in the economy would increase. B. output in the economy would increase. C. the short-run aggregate supply curve would shift left. D. the long-run effect would be a lower price level.
In the long run, a decrease in the price level: a. leaves output prices unchanged relative to input prices. b. decreases the profit margins of many producers
c. decreases RGDP supplied. d. Does none of the above
An increase in nominal income will result in:
a. a decrease in money market equilibrium. b. an excess demand for bonds. c. an increase in bond prices. d. an excess supply of money. e. a higher interest rate.
Economists agree that
a. neither high inflation nor moderate inflation is very costly. b. both high and moderate inflation are quite costly. c. high inflation is costly, but they disagree about the costs of moderate inflation. d. moderate inflation is as costly as high inflation.