In recent years new automobile factories have opened in California and Ohio and closed in Detroit where the unemployment of automobile workers has increased. This unemployment could be decreased if
A) "moving costs" from Detroit to California and Ohio were reduced.
B) information about the new jobs was made available to the unemployed workers at reduced cost.
C) workers with the appropriate skills were relatively scarce in Ohio and California.
D) all of the above.
D
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If we assume that velocity is constant, and if the money supply increases by 6 percent, we would expect, ceteris paribus, that the price level would
A) increase by 3 percent. B) increase by 6 percent. C) decrease by 3 percent. D) decrease by 6 percent.
If the price of used automobiles increased dramatically relative to all other prices, and the demand for all goods remained the same, which of the following would most likely occur?
a. The GDP price index would decrease less than the CPI. b. Both the GDP price index and the CPI would decrease. c. The GDP price index would increase more than the CPI. d. The CPI would increase more than the GDP price index. e. Both the GDP price index and the CPI would increase by the same amount.