According to the graph in the figure above, which year experienced the most rapid change in employment?
A) Year 2
B) Year 3
C) Year 4
D) Year 5
B
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Which of the following situations is one in which the Fed will potentially pursue expansionary monetary policy?
A) Aggregate demand is growing too fast to keep the economy at full employment. B) Potential GDP is forecasted to be lower than equilibrium GDP. C) Potential GDP is forecasted to be higher than equilibrium GDP. D) Aggregate demand is growing too slowly and the economy is in danger of producing GDP above full employment.
The easiest way to create greater income equality is to _____
a. raise everyone's income by the same percentage b. raise everyone's income by the same amount c. raise the incomes of the poor d. lower the incomes of the rich
The effect of improvements in food-producing technology can be shown graphically by
a. rightward shifts in the supply curve of food b. leftward shifts in the supply curve of food c. rightward shifts in the demand curve for food d. leftward shifts in the demand curve for food e. both leftward shifts in the demand curve for and the supply curve of food
Describe the factors that could cause an increase in the wage rate of workers.
What will be an ideal response?