An increase in the price of gasoline above equilibrium will
A. Shift the gasoline demand curve to the right.
B. Cause a surplus of gasoline.
C. Shift the gasoline supply curve to the right.
D. Cause a shortage of gasoline.
Answer: B
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Bill just graduated with his degree in economics. Through Career Services he submitted his resume to several companies and he will visit them during the next two weeks. Bill is considered
A) not in the labor force. B) frictionally unemployed. C) structurally unemployed. D) cyclically unemployed. E) employed because he is visiting firms.
Why are selling costs high in monopolistic competition?
What will be an ideal response?
Funds held in ________ are subject to reserve requirements
A) all checkable deposits B) all checkable and time deposits C) all checkable, time, and money market fund deposits D) all time deposits
Balanced growth occurs when
A) the economy is in steady state. B) the growth rates for the capital-labor ratio and real GDP per worker are the same. C) total factor productivity and capital accumulation each account for the same amount of growth in labor productivity. D) nations converge to the same level of real GDP per worker from equal increases in total factor productivity.