Sonia has a BA in art history, and is currently working full-time as a waitress. The Bureau of Labor Statistics would count Sonia as:
A. underemployed.
B. employed.
C. unemployed.
D. a discouraged worker.
Answer: B
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If the supply of money increases, the long-run aggregate supply curve suggests that output will not change but the price level will
Indicate whether the statement is true or false
An economic agent ________ when he accounts for the full costs and benefits of his actions
A) is called a free rider B) internalizes an externality C) maximizes his profit D) is called a rent seeker
John Maynard Keynes described periods of irrational pessimism and optimism that affect the investment behavior of firms as animal spirits. When considering the investment behavior of firms, animal spirits can be thought of as changes in the
A) actual marginal product of capital. B) capital stock. C) expected marginal product of capital. D) user cost of capital.
Under purely flexible exchange rates,
A) there is no intervention by the domestic fiscal or monetary authorities to specifically target the nominal exchange rate. B) there is only occasional intervention by the domestic fiscal or monetary authorities to specifically target the nominal exchange rate. C) the domestic fiscal and monetary authorities retain considerable flexibility to prevent short-run variability in the nominal exchange rate. D) the domestic fiscal and monetary authorities retain considerable flexibility to prevent long-run variability in the nominal exchange rate.