An excise tax on gasoline causes
A) supply of gasoline to shift to the left.
B) a reduction in the quantity of gasoline demanded.
C) the market clearing price of gasoline to rise.
D) All of the above are correct.
D
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The Keynesian short-run aggregate supply curve is horizontal because
A) it represents Say's law. B) it reflects wage and price inflexibility. C) it represents the full employment level of real GDP. D) it reflects the absence of money illusion.
Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is
a. always zero. b. sometimes zero. c. rarely zero. d. never zero.
The United Mine Workers and the United Auto Workers are examples of ________ unions.
Fill in the blank(s) with the appropriate word(s).
The quantity of real output supplied rises as the price level rises, ceteris paribus.
Answer the following statement true (T) or false (F)