Which of the following would create simultaneous high inflation and high unemployment?
A. A positive demand shock
B. A negative real shock
C. A positive real shock
D. A negative demand shock
Ans: B. A negative real shock
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Which of the following statements is correct?
A) Arc elasticity of demand is the same as the slope of the demand curve. B) Arc elasticity of demand only applies to a nonlinear demand curve. C) Point elasticity of demand is measured at each point along a demand curve. D) Point elasticity of demand is measured between two adjacent points on a demand curve.
The growth of the labor force and the growth of labor productivity help determine the rate of GDP growth
a. True b. False Indicate whether the statement is true or false
At the new equilibrium quantity of labor, the before-tax wage rate _________ and the after-tax wage rate __________.
Fill in the blank(s) with the appropriate word(s).
If a nation has most-favored-nation status conferred on it, then exports from that country
A. are exempt from all safety regulations. B. are sold below cost. C. are taxed at the lowest negotiated tariff rates. D. will be priced higher than products exported from countries without most-favored-nation status.