In 2008 the money wage rate in Ireland increased by 4 percent while the price level increased by 8 percent. As a result, Ireland's
A) short-run aggregate supply curve shifted leftward.
B) short-run aggregate supply curve shifted rightward.
C) long-run aggregate supply curve shifted rightward.
D) short-run and long-run aggregate supply curves shifted rightward.
B
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EBay
A) will be considered a market when the Internet firms are profitable. B) is a market because buyers and sellers are brought together to buy and sell. C) cannot function as a market. D) would be a market if there was only one physical location. E) is not a market because buyers can buy from only one seller at any point in time.
Who benefits from an import quota on a good?
A) domestic consumers of the good B) foreign governments C) domestic producers of the good D) foreign producers of the good
List the four broad categories of factors of production
What will be an ideal response?
The Federal Reserve econometric model predicts that a 2 percent increase in the money supply will increase real GDP after one year by
A) 1 percent. B) 2.5 percent. C) 2 percent. D) 10 percent.