Unions fight primarily for higher wages and better benefits
Indicate whether the statement is true or false
False
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
If the interest rate increases, the
A) money demand curve will shift to the left. B) quantity of money demanded will remain unchanged. C) quantity of money demanded will fall. D) money demand curve will shift to the right.
Aggregate demand in India increased in 2008. In addition, real GDP grew strongly and inflation approached 10 percent. The best explanation for this inflation is that
A) aggregate supply did not change. B) potential GDP decreased. C) there was a movement up along the aggregate demand curve in 2008. D) potential GDP increased, but at a slower rate than aggregate demand.
Unemployment that results from business recessions that occur when aggregate demand is insufficient to create full employment is
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) seasonal unemployment.