Which of the following groups is considered a subset of marginally attached workers?
a. discouraged workers
b. job losers and persons who completed temporary jobs
c. persons unemployed 15 weeks or longer
d. persons employed part time for economic reasons
a. discouraged workers
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The GDP price index one year was 200, and the next year it was 215. What was the percentage change in the price level (inflation) from one year based on that index?
a. 7.5% b. 10% c. 15% d. 2%
Suppose our economy is in macroeconomic equilibrium with an upward-sloping aggregate supply curve and a downward-sloping aggregate demand curve. An increase in aggregate demand will
A. increase aggregate supply. B. decrease the price level. C. cause the aggregate supply curve to shift to the right. D. increase real GDP.
Suppose that consumers expect the price of a product to decrease in the future. The result is that:
A. the current demand for the product increases. B. the current demand for the product decreases. C. the current supply of the product increases. D. the current supply of the product decreases.
Suppose market demand is p = 10 - Q. Firms incur no cost of production. If firm A is the incumbent, can it deter the entry of its rival, firm B?
What will be an ideal response?