In a short-run macroeconomic equilibrium, real GDP exceeds potential GDP, so the
What will be an ideal response?
short-run aggregate supply curve will shift leftward as the money wage rate rises.
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Why is normal profit an opportunity cost?
What will be an ideal response?
Unemployment insurance is an example of a discretionary fiscal policy
a. True b. False Indicate whether the statement is true or false
Which of the following statements accurately shows the relationship between scarcity and resources?
a. There are enough inputs. b. There is a limited amount of inputs. c. There are enough outputs. d. There is a limited amount of outputs.
If the United States' unemployment rate is 25 percent and the capacity utilization rate is 50 percent, the economy would be in the midst of a _____________.
Fill in the blank(s) with the appropriate word(s).