In the Keynesian model, changes in aggregate supply
a. are the primary determinant of inflation.
b. could only destabilize the economy.
c. are ignored.
d. None of the above
C
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In the figure above, if the minimum wage is $2 per hour, then
A) the quantity of labor supplied is 4 million hours and the quantity of labor demanded is 2 million hours. B) the quantity of labor demanded is 4 million hours and the quantity of labor supplied is 2 million hours. C) unemployment is 1 million hours. D) the quantity of labor supplied is 3 million hours and the quantity of labor demanded is 3 million hours.
What does gross private domestic investment include?
a. Business purchases of capital goods, all new construction, and purchases of consumer durable goods. b. Business purchases of capital goods, all new construction, and inventory investment. c. Business purchases of capital goods, all new commercial construction, and inventory investment. d. Business purchases of capital goods, all new residential construction, and inventory investment. e. Business purchases of all types of durable goods, all new construction, and inventory investment.