Cyclical unemployment is closely associated with
a. long-term economic growth.
b. short-run ups and downs of the economy.
c. fluctuations in the natural rate of unemployment.
d. changes in the minimum wage.
b
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An individual holds $10,000 in a non-interest-earning checking account, and the overall price level rises significantly. Other things being constant, we would expect
A) the individual's real wealth to decrease and consumption to decline. B) no change in the individual's real wealth but a decline in real national product. C) the individual's stock of real wealth to decrease but real national income to increase. D) the individual's wealth to increase.
If producing a good generates pollution (a negative externality), from a social perspective
a. The price will be too low and the quantity produced will be too low b. The price will be too low and the quantity produced will be too high c. The price will be too high and the quantity produced will be too low d. The price will be too high and the quantity produced will be too high e. The price will be too low but the quantity produced will be correct
In the above figure, a movement from point A to point B can be explained by
A. the decrease in interest rates. B. an decrease in the quantity of money in circulation. C. the increase in exports to the foreign sector. D. a decrease in the real value of cash balances.
A decrease in the price level results in a(n) ________ in household consumption spending and a(n) ________ in investment spending
A) increase; increase B) decrease; increase C) increase; decrease D) decrease; decrease