If actual output exceeds potential output, ________ shifts upward over time
A) the short-run AD curve B) the short-run AS curve
C) the long-run AD curve D) the long-run AS curve
B
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If the costs of producing pizza increase, which will occur?
A) The supply of pizza will decrease. B) The demand curve for pizza will shift leftward when the price of a pizza increases. C) Pizza will cease to be produced and sold. D) The quantity of pizzas supplied will increase as sellers try to cover their costs. E) The demand curve for pizza will shift rightward when the price of a pizza increases.
What insights into the macroeconomic consequences of financial frictions arise from the new Keynesian model?
What will be an ideal response?
For the past several decades, union membership in the United States has been declining. What has been happening in the rest of the world?
A) Union membership has been increasing in almost every other country. B) In almost every other nation, union membership has held constant. C) In most cases, union membership in other nations has also been falling. D) We do not know because other nations do not keep these statistics.
The opportunity cost of going to college full time away from home includes
A. the time you could have spent with parents back home. B. the funds you would have saved if you had not paid the tuition. C. the income you could have earned from a full-time job. D. All of these are correct.