The curve shown in the figure above is the
A) potential GDP curve.
B) Phillips curve.
C) aggregate supply curve.
D) demand for money curve.
E) aggregate demand curve.
B
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When the U.S. dollar depreciates against the yen, the yen becomes ________ expensive and the U.S. exchange rate ________
A) more; rises B) less; rises C) more; falls D) less; falls
What adjustments must be made to total income to make it equal GDP?
What will be an ideal response?
The observed variations in practice patterns in different regions of the country are difficult to eliminate
a. because of the many alternative treatment options available for most ailments. b. due to the localized nature of most medical practice. c. because it is difficult to change the preferences of physicians and patients. d. the observed variations are so minor that they are of little concern to policy makers. e. responses a, b, and c are all true.
Over the past several years, the earnings gap between high-skilled and low-skilled workers has (i) narrowed because the demand for unskilled labor has risen over time relative to the demand for skilled labor. (ii) widened because the demand for skilled labor has risen over time relative to the demand for unskilled labor. (iii) narrowed because the supply of unskilled labor has risen over time
relative to the supply of skilled labor. (iv) widened because the supply of skilled labor has risen over time relative to the supply of unskilled labor. a. (i) only b. (ii) only c. (i) and (iii) only d. (ii) and (iv) only