The short-run aggregate supply curve shifts when
I. the full-employment quantity of capital changes.
II. technology advances.
A) I only
B) II only
C) neither I nor II
D) I and II
D
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Since 1970, union membership, as a percent of the labor force,
a. has remained virtually unchanged. b. has increased, as more government workers have decided to unionize. c. has decreased. d. has gone through wild swings both up and down.
Over 50 percent of all U.S. workers now belong to unions.
Answer the following statement true (T) or false (F)
To complete the theory of exchange rates, a model should be created that:
a. accommodates short-run changes in variables. b. accommodates long-run changes in variables. c. accommodates changes in expectations. d. accommodates short-run and long-run changes in variables and changes in expectations
The total population of an economy is 175 million, the labor force is 125 million, and the number of unemployed is 8 million. The unemployment rate for this economy is:
a. 7.8 percent b. 5.8 percent c. 6.4 percent d. 4.6 percent