Over time, the percentage of total employment in services has ________ and in agriculture, employment has ________
A) increased; increased
B) decreased; increased
C) stayed about the same; decreased
D) stayed about the same; increased
E) increased; decreased
E
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An aggregate supply curve depicts the relationship between
A) the price level and the quantity of nominal GDP supplied. B) household expenditures and household income. C) the price level and the quantity of real GDP supplied. D) the money wage rate and the quantity of real GDP supplied.
Figure 3-12
In , suppose D1 and S1 indicate initial conditions in the market for ice cream. Which of the following changes would tend to shift this market from D1 to D2?
a.
an increase in the price of milk, an ingredient used to produce ice cream
b.
an increase in the price of frozen yogurt, a substitute for ice cream
c.
a decrease in the price of sugar, an ingredient used to produce ice cream
d.
a decrease in consumer income