If Japan experiences a period of deflation and the United States does not, what will happen in the United States?
A. An increase in aggregate supply
B. A decrease in aggregate supply
C. A decrease in aggregate demand
D. An increase in aggregate demand
Answer: C
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Which of the following is likely to cause a decrease in the wage rate and an increase in the employment level of a country?
A) A left shift in the demand curve for labor, without any change in the supply curve for labor B) A left shift in the supply curve for labor, without any change in the demand curve for labor C) A right shift in the supply curve for labor, without any change in the demand curve for labor D) A right shift in the demand curve for labor, without any change in the supply curve for labor
Using the above figure, which of the following is TRUE?
A) Axis 1 is typically called the y-axis. B) Axis 1 is also known as the origin. C) Axis 2 is typically called the x-axis. D) Point b is known as the origin.