If aggregate demand had grown faster than it did from 2009 to 2010, then the U.S. economy would have experienced
A. higher unemployment and higher inflation.
B. lower unemployment and lower inflation.
C. higher unemployment and lower inflation.
D. lower unemployment and higher inflation.
Answer: D
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For the monopsonist, marginal expenditure is greater than the wage rate because the monopsonist
A) pays a wage higher than that paid in a competitive market. B) chooses the perfectly competitive quantity of labor. C) must increase the wage to all units of labor to attract more units of labor. D) must take the wage as given by the market.
Sally runs a hair styling salon. Sally is a profit-maximizing owner whose firm operates in a competitive market. The marginal cost of a haircut is $15 . What is the maximum wage that Sally will pay her stylists?
a. less than $15 per haircut b. $15 per haircut c. more than $15 haircut d. There is insufficient information to answer this question.
________ are the things that are used to produce items that satisfy people's wants
A) Concepts B) Production possibilities curves C) Resources D) Costs
If a firm is operating at an output that is a little less than the minimum point of its ATC curve, the marginal cost is
A. greater than ATC and rising. B. greater than ATC and falling. C. less than ATC and rising. D. less than ATC and falling.