Poverty rates among the elderly have risen in the past few decades.
Answer the following statement true (T) or false (F)
False
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When the price of a good increases, it
A. leads suppliers to place few goods on the market. B. the demand for the good shifts. C. leads consumers to want to buy more or less than before at a given price. D. a movement down along the demand curve will occur.
The significance of dead capital is that
A) it is difficult to allocate to its most efficient use. B) its fixed cost is too high. C) it is being removed from its most efficient use. D) it replaces too many workers.
When economists say wages are "sticky," they mean that they:
A. are slow to adjust to changes in the economy, and can cause unemployment. B. stick to current market trends, and adjust to equilibrium when changes in the economy occur. C. get stuck behind current market trends, and follow a typical two-week lag with changes in the economy. D. lead market trends, and other variables will stick to the wage rate and follow it closely.
Aggregate supply is the same thing as:
a. total national spending. b. total domestic production. c. aggregate demand. d. a supply shock.