A decrease in nominal incomes cause a:
a. rightward shift in the short-run aggregate supply curve.
b. leftward shift in the short-run aggregate supply curve.
c. rightward shift in the long-run aggregate supply curve.
d. leftward shift in the long-run aggregate supply curve.
a
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If the federal government runs a budget deficit, but the budget deficit as a percent of GDP is less than the growth rate of real output, the
a. national debt will decrease as a share of GDP. b. national debt will remain a constant share of GDP. c. national debt will increase as a share of GDP. d. size of the national debt (in dollar value) will decline.
If there is a recessionary gap, the appropriate fiscal policy would be contractionary.
a. true b. false
Suppose the exchange rate between the United States and Japan changed from $1 =150 yen to $1 = 140 Yen, which of the following statements is true?
A. the price of dollars in yen increased B. the price of yen in dollars decreased C. the yen depreciated D. the dollar depreciated
Collective bargaining contracts between management and the union negotiators
A) also apply to the workers who are not members of the union. B) usually are settled only after a strike. C) cover wages only. D) cover wages and fringe benefits only.