Discouraged workers are included in the calculation of the
i. unemployment rate.
ii. labor force participation rate.
iii. working-age population.
A) i only B) i and ii C) ii only D) iii only E) ii and iii
D
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If a passive approach is followed in closing an expansionary gap, _____
a. restrictive fiscal policy would be used b. restrictive monetary policy would be used c. the short-run aggregate supply curve would shift to the right d. the price level would decrease in the long run e. an economy would experience inflationary pressure
Which of the following shifts the aggregate supply curve to the left?
a. An improvement in computer technology b. A war that forces people to ration their food and their use of energy c. An increase in real wage rates d. Discovery of a new oil field e. Lower oil prices in the world market