The idea that a shift in aggregate demand affects both inflation and unemployment is consistent with
A. The consensus view of the economy.
B. The Keynesian view of the economy.
C. A vertical aggregate demand curve.
D. The monetarist view of the economy.
Answer: A
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Bill Bonecrusher graduates from college with a choice of playing professional football at $2 million a year or coaching for $50,000 a year
He decides to play football, but eight years later, though he could continue to play football at $2 million a year, he quits football to make movies for $3 million a year. His opportunity cost of playing football at graduation was ________ and eight years later the opportunity cost of making movies was ________. A) $50,000; $2 million B) $2 million; $2 million C) $2 million; $3 million D) $50,000; $50,000
The acquisition of more than 10 percent of the shares of ownership in a company in another nation is called
A) portfolio investment. B) gross private international investment. C) foreign direct investment. D) majority investment.
The civilian labor force consists of:
a. all civilians over the age of 16. b. the employed plus the unemployed who are not in the military. c. only individuals who are actually at work during a given week. d. civilians who are not in prisons or mental hospitals.
Of the world's countries, which of the following can be said of their real GDP growth rates in recent years?
A. Countries like China and India have experienced higher rates of growth than the U.S. B. The U.S. has always had the highest growth rate in the world. C. Neither of these statements is true. D. Both of these statements are true, since the U.S. was highest until 2010, when China surpassed it.