The shape of the immediate-short-run aggregate supply curve implies that:
A. total output depends on the volume of spending.
B. increases in aggregate demand are inflationary.
C. output prices are flexible, but input prices are not.
D. government cannot bring an economy out of a recession by increasing spending.
A. total output depends on the volume of spending.
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Which of the following people would be counted as is employed in the Current Population Survey?
A) Rich, who is working 20 hours a week but wants a full-time job B) Misty, who just quit her job to return full-time to school C) April, who just graduated from college and is looking for work D) Jason, who was laid off from work less than 6 months ago but who has stopped looking for work
China, the last large communist society,
a. has proved that a command economy has far less pollution problems than capitalist economies. b. has urban smog levels higher than Los Angeles. c. has the world's most sophisticated pollution-control devices. d. has lowered its level of pollution dramatically since 1980.
The more human capital you have, the more likely you will:
A. be unemployable. B. not benefit from specializing. C. earn more money. D. All of these are true.
Real gross domestic product (RGDP) differs from gross domestic product (GDP) in that RGDP ______.
a. is adjusted for inflation b. reflects current unemployment figures c. reflects a stable price level d. is always smaller than GDP