When monetary and fiscal policymakers expand aggregate demand, which of the following costs is incurred in the short run?
a. Short-run aggregate supply decreases.
b. The natural rate of unemployment increases.
c. The price level increases more rapidly.
d. The money supply increases less rapidly.
c
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Refer to the below graph of the market for low-skilled labor. Sd is the supply of domestic resident workers, and St is the total supply of labor including undocumented workers. If there are illegal immigrants in the market, how many legal residents will be employed?
A. 15M
B. 120M
C. 135M
D. 22M
The personal income tax is the single largest source of revenue for the federal government.
Answer the following statement true (T) or false (F)
List appropriate criteria for deciding whether a merger of two firms producing similar products should be permitted.
What will be an ideal response?
Macroeconomics
A. deals with both individual decisions and the sum of those individual decisions. B. studies the behavior of individual consumers, firms and markets. C. studies the behavior of the economy as a whole. D. involves the interaction between different countries in specific markets.