The unemployment rate:
a. Always falls when the employment rate rises.
b. Always rises when the employment rate rises.
c. Is considered to be a poorer measure of business cycle activity than the employment rate.
d. Tends to be more stable than the employment rate.
e. None of the above.
.C
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A price searcher confronts a downward sloping demand curve because
a. products in the market are differentiated. b. there is no close competitor in the market. c. the market is essentially monopolized. d. the firm gains nothing if it lowers its price.
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.
People learn to hold a specific quantity of money for the groceries, theater tickets, gasoline, clothes, film, and other items they habitually purchase. This behavior is representative of the:
A. precautionary demand. B. speculative demand. C. transactions demand. D. volatility demand.
Which of the following would likely cause aggregate demand to shift to the left?
A. Higher tariffs on all imports into the United States B. Greater consumer confidence about the future C. Higher interest rates discouraging borrowing D. All of these would likely cause aggregate demand to shift to the left.