The lack of which of the following represents a scarcity?
a) orange juice because the trucks carrying it are on strike
b) enough workers to finish two jobs because there's a limited supply of workers
c) enough workers to work at night because the pay is too low
d) grapefruit juice because very few people want to buy it
Ans: b) enough workers to finish two jobs because there's a limited supply of workers
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Macroeconomics deals with the analysis of all of the following questions except:
a. why do national economies grow. b. what determines a nation's savings and investments. c. how does a central bank influence inflation. d. why does a country experience recessions. e. how does Microsoft price its software packages.
If a shift in SRAS results from gains in productivity growth, the effect will be
a. relatively small over a few months or even a couple of years. b. relatively large over a few months or even a couple of years. c. relatively small over a few months but larger over a couple of years. d. relatively large over a few months but smaller over a couple of years.