Which of the following would not be associated with a favorable supply shock?
a. the short-run Phillips curve shifts left
b. unemployment falls
c. the price level rises
d. output rises.
c
You might also like to view...
When deciding whether to hire an additional worker, firms need only consider how the additional worker would affect
a. costs. b. revenues. c. output. d. profit.
The results of running the dictator game experiments thousands of times have revealed to behavioral economists that:
A. people's sense of fairness is fairly uniform across the population. B. most people have little concern for others when it comes to financial matters. C. individual feelings about fairness and generosity vary widely across the population. D. most people are willing to give more than they will keep for themselves.
The quantity theory of money indicates that in any country the money supply is equated to the demand for money, which is inversely proportional to the money value of the gross domestic product.
Answer the following statement true (T) or false (F)
Refer to the above table. Brook's utility schedule shows
A. initially decreasing marginal utility and then increasing marginal utility. B. increasing marginal utility throughout her entire schedule. C. diminishing marginal utility throughout her entire schedule. D. initially increasing marginal utility and then decreasing marginal utility.