Which of the following is assumed constant in the short-run Classical model?
A) Money supply
B) Output
C) Aggregate demand
D) Wages
B
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To graph a relationship involving more than two variables, we use which assumption?
A) linear assumption B) positive relationship assumption C) marginal analysis D) ceteris paribus E) trend assumption
Refer to Figure 4-8. With rent control, the quantity supplied is 200 apartments. Suppose apartment owners ignore the law and rent this quantity for the highest rent they can get. What is the highest rent they can get per month?
A) $1,000 B) $1,500 C) $2,000 D) $2,300
Banks do not create money when they make loans
a. True b. False Indicate whether the statement is true or false
In 2015, the labor force participation rate was 62.6 percent. This means that:
A. 62.6 % of all working age people were employed. B. only 62.4 percent of labor force was in working age population. C. 62.6 % of all working age people wanted a job. D. there was 37.4 % unemployment.