An increase in the wage rate will cause
a. increased employment
b. a leftward shift in the labor supply curve
c. an upward movement along the labor supply curve
d. a rightward shift of the labor supply curve
e. a leftward shift of the labor demand curve
C
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The world of flexible exchange rates and perfect capital mobility is often called the
A) Keynesian model. B) Mundell-Fleming model. C) Monetarist model. D) Melvin model.
When the actual rate of unemployment is less than the natural rate of unemployment, the economy
a. operates at an output greater than its long-run potential. b. operates at its maximum sustainable output. c. must also be experiencing stable prices (zero inflation). d. operates at an output less than its long-run potential.
Behavioral economic policy:
A. builds on traditional economic policy. B. replaces traditional economic policy. C. supports pushes as opposed to nudges. D. is based on laissez-faire principles.
Fiscal policy used to close a recessionary gap is known as _____
Fill in the blank(s) with the appropriate word(s).