Economics

In the classical model, an increase in the unemployment rate A) will

In the classical model, an increase in the unemployment rate A) will result in an increase in the price level if the reduction in output is caused by a change in aggregate demand. B) will likely be temporary. C) is a signal of demand-pull inflation. D) will persist when the reduction in output is caused […]

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Date: September 2nd, 2020

Assume a country produces two types of goods: manufactured goods and a

Assume a country produces two types of goods: manufactured goods and agricultural goods. When this country experiences economic growth, we know that A) the production possibilities curve will shift inward. B) there will be movement along the curve toward more agricultural goods. C) there will be a movement along the curve toward more manufactured goods. […]

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Date: September 2nd, 2020