In a mixed open economy, which of the following all affect the equilibrium GDP in the same direction?
A. C a , I g , S a , and M.
B. S a , T, and M.
C. I g , T, and C a .
D. S a , I g , and X.
B. S a , T, and M.
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If the price of a video rental is below its equilibrium price, there will be a ________ of video rentals and the price will ________
A) shortage; rise B) shortage; fall C) surplus; rise D) surplus; fall
High levels of sales that spur high levels of investment spending is an example of a
a. vicious circle. b. virtuous circle. c. convergence circle. d. divergence circle.
Compared to Italy, the U.S. has a ________ union membership percentage of its labor force.
Fill in the blank(s) with the appropriate word(s).
A shift from LRAS1 to LRAS2 in Figure 17.6 indicates that
A. The price level has increased. B. The capacity of the economy has increased. C. LRAS has decreased. D. Aggregate demand has decreased.