Which group of economists believes that there is a natural rate of output that is relatively immune to short-run fluctuations in aggregate demand?
A. Supply-siders.
B. Monetarists.
C. Fiscal economists.
D. Keynesians.
Answer: B
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Figure 36-4
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Which of the situations illustrated in Figure 36-4 shows a currency appreciation leading to disinflation?
A. 1 B. 2 C. 3 D. 4
Labor productivity is defined as
A) the amount of workers per unit of input. B) the amount of input per worker. C) the increase in output per unit of machinery. D) the amount of output per worker.
Core inflation is a measure of:
A. inflation that excludes goods with historically volatile price changes. B. an overall rise in prices in the economy. C. the Consumer Price Index with durable goods excluded. D. the change in the Consumer Price Index with durable goods excluded.
If Lauren's substitution effects outweigh her income effects, her labor supply curve will
A. Appear vertical. B. Bend backward. C. Slope upward. D. Appear horizontal.