A shortage of product means a(n):
a. excess supply of the product.
b. excess demand of the product.
c. situation where the quantity demanded is less than the quantity supplied.
d. situation where the quantity supplied exceeds the quantity demanded.
e. situation where the current market price is too high.
b
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If the disposable income decreases, then
A) the demand for loanable funds increases. B) the quantity of loanable funds demanded increases. C) the supply of loanable funds increases. D) the quantity of loanable funds supplied decreases. E) the supply of loanable funds decreases.
Which of the following is a component of the incomes approach to GDP?
A) consumption expenditure B) wages and salaries C) investment D) government expenditure on goods and services
Unpredictable changes in the value of money, which brings about gains and losses, are a consequence of unpredictable changes in
A) real GDP. B) unemployment rate. C) inflation. D) productivity.
Suppose that the labor movement has a revival in the United States and the majority of workers join labor unions. As a result we would expect
A) the unemployment rate to fall. B) the unemployment rate to rise. C) the labor force participation rate to fall. D) no change in the unemployment rate or labor force participation rate.