During the mid and last part of the 1990's both inflation and unemployment were low. In general this could have been the result of
a. adverse supply shocks that shifted the short-run Phillips curve left.
b. adverse supply shocks that shifted the short-run Phillips curve right.
c. favorable supply shocks that shifted the short-run Phillips curve left.
d. favorable supply shocks that shifted the short-run Phillips curve right.
c
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Advances in technology and growth in human capital ________ because ________
A) shift the productivity curve downward; labor and capital become less productive B) shift the productivity curve upward; labor and capital become less productive C) shift the productivity curve upward; labor and capital become more productive D) do not shift the productivity curve; there is a movement along the productivity curve E) shift the productivity curve downward; labor and capital become more productive
The unregulated, single-price monopoly shown in the figure above will produce where its demand
A) equals its MC curve. B) equals its ATC curve. C) is inelastic. D) is elastic.
Suppose your expenses for this term are as follows:
tuition: $5,000, room and board: $3,000, books and other educational supplies: $500. Further, during the term, you can only work part-time and earn $4,000 instead of your full-time salary of $10,000. What is the opportunity cost of going to college this term, assuming that your room and board expenses would be the same even if you did not go to college? A) $5,500 B) $8,500 C) $11,500 D) $14,500
For much of 2001 and 2002, McDonalds faced a(n):
A) decrease in demand. B) increase in demand. C) increase in profits. D) none of the above.