Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A.
B. A to C.
C. C to D.
D. B to D.
Answer: B
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Explain how each of the following events would affect the long-run aggregate supply curve
a. A lower price level b. A decrease in the labor force c. A decrease in the quantity of capital goods d. Technological change
When many residents own automobiles that can handicap urban transportation services
Indicate whether the statement is true or false
The sustained productivity growth of railroads occurred primarily because of:
a. increased economies of scale. b. more powerful locomotives and more efficient freight cars. c. stronger steel rails. d. the advent of refrigerator cars.
If the economy in the graph shown is currently at point B, and the government enacts contractionary fiscal policy, in the short run the economy will most likely move to point:
A. A B. It is likely to be unaffected and stay at point B C. C D. D