A sudden technological breakthrough in an economy would:
a. have no impact on real GDP.
b. cause aggregate demand to fall.
c. lower the natural rate of unemployment.
d. increase the price level.
e. cause aggregate supply to rise.
e
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A signal is
a. anything used to show employees in a market that demand in a profession has increased b. anything used to show employees in a market that supply in a profession has increased c. a proxy used to indicate possession of unobservable qualities required for a particular job d. a way for employers to discriminate against certain groups of people e. a way for employees to learn to stay out of certain professions
The price of dishwashers increases dramatically, causing a 1 percent increase in the CPI. The price increase will most likely cause the GDP deflator to increase by
a. more than 1 percent. b. less than 1 percent. c. 1 percent. d. None of the above is correct; this particular price increase will not affect the GDP deflator.