A. Shifts in aggregate supply
B. changes in export demand due to the state of the world economy
C. business confidence
D. business expectations
A. a high rate of inflation: along with a low rate of unemployment
B. simultaneously low rates of inflation and unemployment
C. simultaneously high rates of inflation and unemployment
D. a high rate of unemployment along with a low rate of inflation
A. Vertical or nearly vertical
B. upward slog
C. downward slog
D. horizontal or nearly horizontal
A. negative relationship between the inflation rate and labor demand
B. positive relationship between labor supply and the inflation rate
C. positive relationship between the inflation rate and the employment the
D. negative relationship between the inflation rate and the unemployment rate
A. that can be produced if structural unemployment is zero
B. that can be produced at a zero-unemployment rate
C. that can be sustained in the long run without inflation
D. that can be sustained in the long run, if the inflation rate is zero
A. the long-run aggregate demand curve is horizontal at the natural rate of inflation
B. the long run aggregate demand curve is vertical at potential GDP
C. the long run aggregate demand curve is vertical at potential GDP
D. The long run supply curve is horizontal at the natural rate of inflation
A. have chosen not to work at the market wage
B. have given up looking for a job but would accept a job at the current wage if one were offered to them.
C. are too productive to be hired at the current wage
D. are unable to find a job at the current wage rate
A. a vertical (or almost vertical)
B. a downward slog
C. a horizontal (or almost horizontal)
D. an upward slog
A. minimum wage agreements
B. trade
C. scale economies
D. insider-outsider distinctions
E. efficiency wages
F. all of the above
A. 30%
B. 10%
C. 70%
D. 40%