As a result of changes in cyclical unemployment, the unemployment rate ________ from 2009 to 2014.
A. remained above 6 percent
B. rose every year
C. fell every year
D. remained below 6 percent
Answer: A
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Faster growth rates by a major trading partner, combined with an increase in stock market wealth, would have what effect on aggregate demand? a. AD would increase
b. AD would decrease. c. AD would stay the same. d. AD could either increase or decrease, depending on which change was of a greater magnitude.
Movements up along a particular short run Phillips curve are not consistent with: a. Increases in aggregate demand
b. Movements up along the short run aggregate supply curve. c. Shifting inflationary expectations. d. Movements up along a particular short run Phillips curve are consistent with all of the above.
Which describes an oligopoly?
a. one firm producing 95% of the output b. two to four firms producing 70% - 80% of the output c. eight to ten firms producing 60% - 70% of the output d. ten or more firms producing 90% of the output
The value of a producer's output minus the value of all intermediate goods used in the production of that output is called the producer's
A) net output. B) accounting profit. C) value added. D) profit margin.