The problem with inflation is that as prices rise, consumers can no longer afford to buy as many goods and services
Indicate whether the statement is true or false
FALSE
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The graph above might represent the ________
A) response to an increase in the fraction of the population engaged in research and development B) response to a rise in the productiveness of research and development C) response to an increase in the total population D) response to a rise in the saving rate
In the aggregate demand-aggregate supply model, the short-run effects of an unanticipated decrease in the money supply will be
a. lower real interest rates and an increase in aggregate demand. b. higher real interest rates and an increase in aggregate demand. c. lower real interest rates and a reduction in aggregate demand. d. higher real interest rates and a reduction in aggregate demand.
Union membership will be more attractive from the worker's viewpoint if
a. the demand for the union labor is highly inelastic. b. the supply of union labor is highly elastic. c. only a few of the firms in the industry are unionized. d. the membership dues charged by the union are extremely high.
Refer to the given data. How many units of output will this profit-maximizing firm produce?
Use the resource demand data shown on the left and the resource supply data on the right in answering the following question:
A. 39.
B. 48.
C. 55.
D. 60.