Empirical studies have found that the labor supply curves for most parts of the population are

If the CPI was 132.5 at the end of last year and 137.5 at the end of this year, the inflation rate over these two years was

A) 3.6 percent. B) 3.8 percent. C) 5.0 percent. D) None of the above answers is correct.

If business cycles are caused by changes in aggregate demand, you would expect to see

a. prices and unemployment moving in the same direction. b. price and unemployment moving in opposite directions. c. prices not moving with unemployment. d. unemployment is not included in the Keynesian model.