An increase in the money wage rate shifts the SAS curve
What will be an ideal response?
leftward, as does an increase in the money prices of raw materials.
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An increase in the time spent on job search
A) decreases the unemployment rate. B) decreases the real wage rate. C) decreases the labor force participation rate. D) decreases potential GDP. E) decreases the demand for labor.
Rick lost his job as a logistics and distribution coordinator nearly three years ago. After a long and failed search, Rick finally gives up and stops looking for a new job
Rick's decision to suspend his job search causes the unemployment rate to ________ and the labor force participation rate to ________. A) increase; decrease B) decrease; decrease C) stay the same; decrease D) increase; stay the same E) increase; increase
In the Keynesian view, equilibrium takes place when
a. the real and nominal interest rates are equal. b. the level of total spending in the economy is equal to current output. c. current output is equal to the economy's long-run potential. d. the money supply is growing at a constant rate.
A public good is ________ and ________.
A) excludable; nonrival B) nonexcludable; rival C) excludable; rival D) nonexcludable; nonrival