An economic contraction caused by a shift in aggregate demand causes prices to
a. rise in the short run, and rise even more in the long run.
b. rise in the short run, and fall back to their original level in the long run.
c. fall in the short run, and fall even more in the long run.
d. fall in the short run, and rise back to their original level in the long run.
C
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Refer to above figure. The loss of Consumer Surplus due to the tariff equals ________
Fill in the blank(s) with correct word
In the early post-war years, the Fed was reluctant to continue its wartime agreement with the Treasury because it believed the result would be
A) recession. B) inflation. C) higher taxes. D) lower taxes.
From 1860 to 1910, U.S. statistical and qualitative evidence suggests that
(a) many migrants came during the upswings in the U.S. business cycle. (b) the employment experiences and economic conditions of family and friends in the U.S. influenced the decisions of prospective immigrants. (c) economic desperation, social immobility and restricted labor opportunities "pushed" immigrants out of their homelands and into the U.S. (d) all of the above are true.
The ultimate threat of a union is
A) the lockout. B) the President's power granted by the Taft-Hartley Act. C) the unity of spirit of the union membership. D) the strike.