A negative demand shock could cause an increase in U.S. exports.
Answer the following statement true (T) or false (F)
True
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If labor demand rises faster than labor supply, it is expected that real wages will ____
a. stay the same b. decrease c. increase d. Not enough information is available to determine the impact on real wage rates.
If a natural disaster were to cause a negative long-run supply shock to the economy, once the economy adjusts, the new equilibrium will be at a:
A. higher price level and lower level of output. B. lower price level and lower level of output. C. higher price level and higher level of output. D. lower price level and higher level of output.
A currency system in which exchange rates are determined in free markets is called a:
A. fixed exchange rate system. B. gold standard. C. flexible exchange rate system. D. All of these
Refer to the information provided in Figure 3.10 below to answer the following question(s).
Figure 3.10Refer to Figure 3.10. A decrease in quantity supplied is represented by a movement from
A. S2 to S1. B. S2 to S3. C. Point B to Point A along supply curve S2. D. Point B to Point C along supply curve S2.