High rates of unemployment are undesirable because:
a. they cause increased levels of societal tension
b. society loses potential production of goods and services.
c. families of the unemployed may find it difficult to survive.
d. all of the above.
d
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The table above gives the CPI market basket for 2010 and 2011. Suppose that 2010 is the reference base period
a. What is the cost of the CPI market basket in 2010? b. What is the cost of the CPI market basket in 2011? c. What is the CPI for 2010? d. What is the CPI for 2011?
When there is a large government deficit, what will happen to the aggregate demand curve?
a. It will shift to the left. b. It will shift downward. c. It will shift to the right. d. It will not shift.
For any competitive market, the supply curve is closely related to the
a. preferences of consumers who purchase products in that market. b. income tax rates of consumers in that market. c. firms' costs of production in that market. d. interest rates on government bonds.
Assume both the demand for bagels and the supply of bagels increase. Which of the following outcomes is certain to occur?
A. The equilibrium price of bagels will rise. B. The equilibrium price of bagels will fall. C. The equilibrium quantity of bagels will rise. D. The equilibrium quantity of bagels will fall.