Cyclical unemployment results from:
A. a deficiency of spending on goods and services.
B. the decreasing relative importance of goods and the increasing relative importance of
services in the U.S. economy.
C. the everyday dynamics of a free labor market, with workers voluntarily changing jobs.
D. technological change.
A. a deficiency of spending on goods and services.
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Which of the following best describes how an increase in the money supply shifts aggregate demand?
A. The money supply shifts right, prices fall, spending increases, and aggregate demand shifts right. B. The money supply shifts right, the interest rate falls, investment increases, and aggregate demand shifts right. C. The money supply shifts right, prices rise, spending falls, and aggregate demand shifts left. D. The money supply shifts right, the interest rate rises, investment decreases, and aggregate demand shifts left.
Refer to Table 11-1. What is the average product of labor when the farm hires 5 workers?
A) 4 pounds B) 10.8 bushels C) 38.2 pounds D) 54 pounds