Among the causes of an increase in labor demand is ________
A) improved availability and affordability of day care for children
B) an increase in enrollment at colleges
C) an increase in the college wage premium
D) an expansion of economic activity
D
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________ refers to funds available for immediate payment
A) Term deposits B) Velocity C) Mutual funds D) Liquidity
If the aggregate demand curve and the aggregate supply curve intersect at a level of real GDP more than potential GDP, there is
A) a below-full employment equilibrium. B) a rising real GDP. C) a falling price level. D) an inflationary ga
Suppose a perfectly competitive market is in long-run equilibrium with a price of $12. Then there is a permanent increase in demand
As a result, in the short run the market price ________ and in the long run the number of firms ________ and the price is ________ the price was in the short run. A) rises; does not change; is equal to B) rises; increases; higher than C) rises; does not change; lower than D) falls; decreases; is equal to E) rises; increases; lower than
Which of the following is true of the Golden Age of fiscal policy of the 1960s? a. Fiscal policy was used to prevent output from expanding in 1964
b. Lyndon B. Johnson cut income tax rates to reduce inflationary pressures in the economy c. A tax cut was introduced to increase savings and unemployment. d. A tax cut increased disposable income and consumption. e. The unemployment rate rose by 5 percent for the first time in seven years