Workers expect inflation to rise from 3% to 5% next year. As a result, this should
A) shift the short-run aggregate supply curve to the left.
B) move the economy down along a stationary short-run aggregate supply curve.
C) shift the short-run aggregate supply curve to the right.
D) move the economy up along a stationary short-run aggregate supply curve.
A
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An economy has the income shares information in the table above. Which of the following is TRUE?
A) The information in the table represents the income distribution in the United States. B) Income in the U.S. economy is more equally distributed than that represented in the table. C) Income in the U.S. economy is less equally distributed than that represented in the table. D) The information in the table represents the wealth distribution in the United States.
The natural rate of unemployment is the unemployment rate that would exist in the absence of _____
a. structural unemployment b. educated unemployment c. cyclical unemployment d. frictional unemployment e. underemployment
In a command economy, ________ establish(es) what will be produced and when, set(s) production goals, and make(s) rules for distribution.
A. individuals, households and privately owned firms B. a centralized authority C. individuals and households D. only privately owned firms
If a brewery wants to raise funds to purchase a new fermenting vat, it does so in the
A) alcoholic beverages market. B) output market. C) factor market. D) product market.