An increase in demand causes equilibrium price and quantity to rise, other things constant.
Answer the following statement true (T) or false (F)
True
When the demand curve shifts to the right, supply and demand intersect at a higher price and quantity.
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When the Fed fears inflation, the Fed ________ government securities, so that the federal funds rate ________ and the quantity of money ________
A) buys; rises; decreases B) sells; falls; increases C) buys; falls; increases D) sells; falls; decreases E) sells; rises; decreases
Labor unions create ________ unemployment at the higher end of the wage ladder
A) frictional B) cyclical C) structural D) under-reported
Economists most often disagree over positive rather than normative economic issues
a. True b. False Indicate whether the statement is true or false
Who from among the following would be classified as out of the labor force?
A. Mario Faubert, a NHL hockey player at home sick with the flu. B. Jack Little, a 21 year old new college graduate actively looking for his first job. C. Amanda Pie, a full-time homemaker. D. Brenda Smith, an 18 year old college student employed part-time at a fast food restaurant.