In the United States, the wage rates for high school graduates are growing faster than the wage rates for college graduates
a. True
b. False
Indicate whether the statement is true or false
False
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If the actual inflation rate exceeds the expected inflation rate, then: a. the economy is operating along the long-run Phillips curve
b. unemployment exceeds the natural rate. c. maintaining the existing unemployment rate will require increasing inflation in the long run. d. the actual rate will tend to fall toward the expected rate. e. unemployment will tend to decrease in the long run.
The money supply contracts when the Fed: a. replaces worn and ripped Federal Reserve notes. b. sells government securities
c. borrows from the U.S. Treasury. d. purchases equities in major U.S. corporations.
An increase in the demand for workers producing computers for export versus producing agricultural products that can be imported more cheaply from abroad is an example of how increasing wage inequality can result from:
A. increasing reservation prices. B. the diminishing marginal product of labor. C. globalization. D. the diminishing marginal product of capital.
Only a ________ shift of the ________ curve can reduce unemployment and inflation at the same time.
A. leftward; AD B. rightward; AD C. rightward; AS D. leftward; AS