Refer to the above figure. An increase in aggregate demand beyond real Gross Domestic Product (GDP) level Y1 would result in
A) a lower price level and an increases in real GDP.
B) higher real GDP but not a higher price level.
C) a lower price level but no change in real GDP.
D) a higher price level but no change in real GDP.
D
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To calculate the unemployment rate, which of the following are necessary pieces of information?
I. the number of unemployed persons II. the population III. the number of people in the labor force IV. the working age population A) I, II III and IV B) I and II C) I and III D) I and IV
What are the five most important variables that cause the market demand curve for labor to shift?
What will be an ideal response?
Chicken and fish are substitutes. Therefore, the cross elasticity of demand between chicken and fish is
a. negative. b. positive. c. zero. d. Any of the above is possible.
The increase in the availability of ATMs has caused the cost of acquiring currency to ________ which will cause the currency ratio to ________, everything else held constant
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease