In an open mixed economy, the inflationary expenditure gap may be described as the:
A. Excess of GDP over C a + I g + X n + G at the full-employment output
B. Excess of S a + M + T over I g + X + G at the full-employment GDP
C. Extra consumption that occurs when investment increases in a full-employment economy
D. Excess of C a + I g + X n + G at the full-employment GDP
D. Excess of C a + I g + X n + G at the full-employment GDP
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The unemployment rate for married men is usually higher than the rate for teenagers
a. True b. False Indicate whether the statement is true or false
An increase in the price of a nonlabor input such as oil will cause
A) a movement down the SRAS curve. B) a movement up the SRAS curve. C) a leftward shift in the SRAS curve. D) a rightward shift in the SRAS curve. E) no change regarding the SRAS curve.