A macroeconomy
What will be an ideal response?
is said to be in equilibrium when the incomes that arise from production give rise to a level of spending that, in turn, stimulates producers to produce the original level of output.
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Increases in consumer wealth will cause an increase in autonomous consumption
Indicate whether the statement is true or false
Refer to Figure 10.9. Other things equal, an increase in the nominal money supply by the Fed is best represented as a change in equilibrium from
A) point A to point B. B) point A to point D. C) point C to point B. D) point C to point D.
The longer any price change lasts over time, the
A) more difficult it is to alter quantity demanded. B) the more quickly quantity demanded will return to its original level. C) the longer the short-run equilibrium will continue to be the short-run equilibrium. D) more quantity demanded will change.
Employers rely on a job applicant's signals
a. because they are always an accurate indication of the applicant's skills b. because actual abilities are not observable prior to employment c. because actual abilities are not observable after the applicant is hired d. only when hiring someone for an entry-level position e. only when hiring someone who has a college degree