Which of the following rates of growth in the money supply is likely to lead to the lowest level of inflation in the economy?
a. 1 percent per year
b. 3 percent per year
c. 5 percent per year
d. 7 percent per year
a
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In the aggregate expenditures model, if an economy operates above equilibrium GDP, there will be:
a. unplanned inventory accumulation. b. a decrease in GDP. c. a decrease in employment. d. all of the above.
Decreases in the demand curve for labor may arise from ____ in labor productivity or from ____ in the price of the good
a. increases; increases. b. increases; decreases. c. decreases; increases. d. decreases; decreases.
Refer to the table shown. The firm would definitely not hire:Number of workersTotal output142103184285356417458489501049
A. 9 workers. B. 5 workers. C. 10 workers. D. 7 workers.
A patent gives a firm the exclusive right to produce a product for
A. 2 years. B. Forever. C. 20 years. D. 6 months.