The _____ labor market consists of a primary market and a secondary market.
Fill in the blank(s) with the appropriate word(s).
dual
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The heart of the supply-side economic program was to
A. raise taxes. B. lower taxes. C. raise government spending. D. put people to work in government jobs.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________.
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
Monetarists believe the private economy is inherently:
A. unstable and the public sector should be small. B. unstable and the public sector should be large. C. stable but that the public sector should be large. D. stable and that the government sector should be small.
Refer to the graph below. Suppose that the economy is at an initial equilibrium where the AD1 and AS1 curves intersect. Demand-pull inflation in the long run can best be illustrated as a shift of:
A. AS1 to AS2, and back again to AS1
B. AD1 to AD2, and back again to AD1
C. AS1 to AS2, consequently making AD1 shift to AD2
D. AD1 to AD2, consequently making AS1 shift to AS2