The single currency project in the EU will be most successful if European labor is relatively
A) immobile.
B) immobile and business cycles are not synchronized.
C) mobile and business cycles are synchronized.
D) mobile and business cycles are not synchronized.
E) mobile.
C
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If the aggregate demand curve shifts to the right in the short run then the long-run equilibrium will be at a:
A. higher price level and higher level of output. B. higher price level and lower level of output. C. higher price level and same level of output. D. lower price level and higher level of output.
A monopsonist must pay a higher net wage rate to hire additional workers because as a single
A. Seller, it does not have to compete with other firms for customers. B. Buyer in the market, it faces a flat supply curve for labor. C. Buyer in the market, it faces an upward-sloping supply curve for labor. D. Seller, it has market power.
The income of U.S. citizens working abroad counts in U.S. GNP.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 23.9 below to answer the question(s) that follow.
Figure 23.9Refer to Figure 23.9. As a result of an increase in investment by $20 million, aggregate expenditures shifts ________, ________ equilibrium output and equilibrium expenditure.
A. down; increasing B. down; not changing C. up; increasing D. down; decreasing