Under the law of supply, any decrease in price will cause ________ in quantity supplied
a. an increase
b. no change
c. a decrease
d. constant change
c
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Which of the following is an allowable deduction?
A. Unreimbursed medical expenses that exceed 7.5% of AGI B. State and local income and property taxes C. Interest on qualified education loans up to a certain limit D. All of the answer options are correct.
If a component of aggregate demand increases,
A) GDP in the United States is likely to increase less than that component of spending increased. B) GDP in the United States is likely to increase more than that component of spending increased. C) GDP in the United States is likely to decrease. D) GDP in the United States will not change.
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
If the number employed is 190 million, the working-age population is 230 million, and the number unemployed is 10 million, then the unemployment rate is
A) 5%. B) 5.2%. C) 8%. D) 10%. E) 50%.