An increase in the unemployment rate which is accompanied by an increase in the inflation rate is represented by a ________ the Phillips curve
A) movement down
B) movement up
C) upward shift of
D) downward shift of
C
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Do markets solve all of society’s problems?
A. Yes, markets are efficient and work well under nearly all circumstances. B. Yes, markets solve the problems of production and distribution. C. No, they do not solve problems such as unemployment and inflation. D. No, they hardly solve any problems at all. E. Uncertain, economic theory has no answer to this question.
Planned expenditures ________
A) are directly affected by government purchases B) increase when there is a reduction in taxes C) decrease when disposable income decreases D) all of the above E) none of the above
The supply of loanable funds comes from anyone who has saved money and wants to lend it out
a. True b. False Indicate whether the statement is true or false
What is an effect of a tariff on steel imports to the United States?
A. U.S. consumers benefit from the increased production of better-quality steel in the United States. B. U.S. steel workers lose because the increase in the price of steel results in decreased production and unemployment in the steel industry. C. Foreign consumers benefit from the effective world-wide increase in the price of steel. D. U.S. steel producers benefit as the product's price rises and domestic production increases.