Over the past thirty years in the U.S., increases in labor demand have been __________ than increases in labor supply so that wages on average have __________
a. smaller; increased
b. larger; increased
c. smaller; decreased
d. larger; decreased
e. larger; stayed constant
B
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Long-run equilibrium will occur at the price level at which
A) the aggregate demand and long-run aggregate supply curves intersect. B) the short-run aggregate supply and long-run aggregate supply curves intersect. C) the long-run aggregate demand and short-run aggregate supply curves intersect. D) the aggregate demand and short-run aggregate supply curves intersect.
A currency is overvalued if its exchange rate vis-à-vis a foreign currency is:
A) at the equilibrium exchange rate. B) not pegged. C) below the equilibrium exchange rate. D) above the equilibrium exchange rate.
According the Keynesian macroeconomic model, which of the following was responsible for starting the Great Depression?
A) too little private spending B) too little government spending C) high taxes D) decreases in the quantity of money E) decreases in technology
Bond prices and interest rates are inversely related
Indicate whether the statement is true or false