Which of the following will cause an upward movement along the aggregate supply curve?
a. An increase in the price level of all goods and services
b. A decrease in the price level of all goods and services
c. A technological improvement in the country
d. An increase in the physical capital of a country
a
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As real GDP ________, aggregate planned expenditure ________
A) decreases; remains the same, because it is independent from real GDP B) increases; remains the same, because the increase in some components is precisely offset by the decrease in others C) increases; decreases D) decreases; increases E) increases; increases
When the Bureau of labor Statistics makes seasonal adjustments in the labor force data, what is it likely to do with the number of people in the labor force during the month of June?
A) Lower the number each year. B) Raise the number each year. C) Lower the number about as often as it raises the number in the long run. D) Multiply the number by the labor force participation rate.
If the amount of high-powered money were 100 and the bank reserve holding ratio was 0.25 then the maximum stock of deposits would be (assuming that all money is deposited in the banking system)
A) 500. B) 450. C) 400. D) 350.
Which of the following is a characteristic of pure capitalism?
a. all resources are owned communally b. economic activity is coordinated by government decision makers c. the price system is used to guide resources to their highest-valued uses d. centralized economic planning is used to answer the basic economic questions e. individual choices are reflected only through collective decisions