A person who is in between jobs but actively engaged in a job search is considered to be
What will be an ideal response?
frictionally
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Higher price elasticity of demand means that a consumer's demand is:
A) more responsive to price changes. B) less responsive to price changes. C) less responsive to income changes. D) more responsive to income changes.
The negative relationship between unemployment and inflation is known as the
A) aggregate supply curve. B) aggregate demand curve. C) Phillips curve. D) efficiency wage line.
Automatic stabilizers occur ______________, and only offset part of the shifts in aggregate demand.
a. slowly b. quickly c. in the long run d. monthly
Which of the following is NOT true about the aggregate demand curve?
A. The aggregate demand curve shows total planned real expenditures at different price levels. B. The aggregate demand curve considers the entire circular flow of income. C. Changes in the economic conditions in other countries will lead to a shift of the aggregate demand curve. D. The production possibilities curve determines the slope of the aggregate demand curve.