In the above, which figure(s) show(s) relationship between the variables that is always positive?
A) Figure A only
B) Figures C and D
C) Figures A and C
D) Figures A, C, and D
E) Figures A and B
C
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Real wages would rise if the prices of goods and services
A. rose more rapidly than nominal wage rates. B. and wage rates both fell. C. rose less rapidly than nominal wage rates. D. and wage rates both rose.
For a firm in monopolistic competition to undertake product development, the marginal cost of the development must be ________ the marginal benefit of the development to consumers
A) greater than B) less than C) not comparable to D) equal to or less than E) None of the above because a monopolistically competitive firm undertakes product development if the marginal cost of the development is less than or equal to the marginal revenue to the firm from the development.
In the long-run, an increase in the budget deficit and an expansionary monetary policy would:
A) increase the price level only. B) increase both the price level and real income. C) increase real income only. D) none of the above.
The largest change in the unemployment rate from the beginning of a recession to the peak unemployment rate occurred during the recession beginning in:
A. 1980. B. 1973. C. 1929. D. 2007.