In the short run, an increase in aggregate demand
A) lowers the price level and decreases real GDP.
B) lowers the price level and increases real GDP.
C) raises the price level and increases real GDP.
D) raises the price level and decreases real GDP.
C
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The U.S. has a system of private property rights that encourages productive uses of its resources even in the presence of some government influence
Indicate whether the statement is true or false
Ricky leaves his job as a high school math teacher and returns to school to study the latest developments in computer programming, after which he takes a higher paying job at a software firm. This is an example of
a. A compensating differential. b. Human capital. c. Signaling. d. Efficiency wages
Frictional unemployment is a sign of a healthy economy because
A. workers become more productive after taking vacations. B. economic growth remains steady. C. workers seek labor where they can provide the most value to their respective employer. D. wages fall, which forces workers to compete.
An increase in the price of input used to produce a product will lead to
A. a decrease in quantity supplied of that product B. a decrease in the supply of that product. C. a decrease in the demand for that product. D. an increase in the supply of that product.