Refer to the above figure. Suppose the economy's initial equilibrium is represented by the intersection of LRAS1 and AD1
Suppose there is a persistent reduction in labor force participation, which reduces total planned production at any given price level. The resulting change in the economy's long-run equilibrium position would be represented by a
A) movement from B to C. B) movement from C to A.
C) movement from A to B. D) movement from A to C.
D
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The economy's supply of loanable funds is
a. a result of firms' borrowing decisions b. a vertical line at the current level c. downward sloping d. a result of people's saving decisions e. the same as wage-related rent
Fuel and shipping costs are examples of __________ costs.
Fill in the blank(s) with the appropriate word(s).
If the exchange rate between the U.S. dollar and the Japanese yen is $1 = 200 yen, then the dollar price of yen is
A. $.005. B. $.05. C. $.50. D. $5.
Refer to the data provided in Table 17.6 below to answer the following question(s). The table shows the relationship between income and utility for Isabel.Table 17.6 IncomeTotal Utility $00 $40,00020 $80,00050$120,00090$160,000150Refer to Table 17.6. Suppose Isabel has a 25% chance of becoming disabled in any given year. If she does become disabled, she will earn $0. If Isabel does not become disabled, she will earn her usual salary of $160,000. Isabel has the opportunity to purchase disability insurance for $40,000 which will pay her her full salary in the event she becomes disabled. Isabel's utility with the policy is
A. 37.5 and her expected utility without the policy is 75. B. 90 and her expected utility without the policy is 37.5. C. 112.5 and her expected utility without the policy is 90. D. 90 and her expected utility without the policy is 112.5.