Which of the following will cause a downward movement along the aggregate demand curve?
a. An increase in the price level of all goods and services
b. A decrease in the price level of all goods and services
c. A technological improvement in the country
d. An increase in government spending
b
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Darnell can work on an oil rig, where the probability of being killed in a work-related accident is 4/6,000, or he can earn work as a lumberjack, where the probability of being killed in a work-related accident is 1/6,000
Using the compensating differential approach, the value of Darnell's life is $6 million. How much more per year will working on an oil rig pay than working as a lumberjack? A) $2,000 B) $3,000 C) $4,000 D) $6,000
A system of allocating scarce goods and services using some criteria other than price:
a. rationing b. price floor c. excess demand d. surplus e. equilibrium