On the graph above, consider a point A on the aggregate demand curve and above the aggregate supply curve. At this point, ________
A) quantity demanded equals output, but the inflation rate will fall, so output will rise
B) quantity demanded is greater than quantity supplied, so the inflation rate will rise
C) output is greater than the quantity demanded, so output will fall
D) the aggregate demand curve will shift to the right until quantity demanded is equal to quantity supplied
E) none of the above
A
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Where are the final goods and services produced that are included in Germany's GDP?
A) anywhere, as long as they are produced using German labor B) within Germany C) within Germany but only if they are produced using only German resources D) outside of Germany E) anywhere, as long as they are produced using German resources
In determining how much labor union workers will offer, the union concerns itself mainly with the
A. Marginal wage curve. B. Market wage curve. C. Labor demand curve. D. Marginal revenue product curve.