If the government reduced the minimum wage and pursued contractionary monetary policy, then in the long run
a. both the unemployment rate and the inflation rate would be lower.
b. the unemployment rate would be lower and the inflation rate would be higher.
c. the unemployment rate would be higher and the inflation rate would be lower.
d. the unemployment rate and the inflation rate would be higher.
a
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Suppose the government has a budget surplus. Then
A) private saving is less than investment and government saving is positive. B) private saving is greater than investment and government saving is positive. C) private saving is greater than investment and government saving is negative. D) private saving is equal to investment. E) private investment is greater than the sum of government saving and private saving.
The demand for all carbonated beverages as a whole is likely to be ________ the demand for Dr. Pepper
A) perfectly inelastic compared to B) perfectly elastic compared to C) more elastic than D) less elastic than
The expenditure approach for the calculation of GDP includes spending on:
a. consumption, investment, durable goods and exports. b. consumption, gross private domestic investment, government spending for goods and services, and exports. c. consumption, gross private domestic investment, government spending for goods and services, and net exports. d. consumption, net private domestic investment, government spending for goods and services, and net exports. e. consumption, gross private domestic investment, all government spending including transfer payments, and net exports.
Other things being equal, if the quantity of labor supplied is less than the quantity of labor demanded, wages will tend to fall
a. True b. False Indicate whether the statement is true or false