If Eastland's consumer confidence rises, what would happen to macroeconomic equilibrium in the short-run if the short-run aggregate supply curve is upward sloping?
A) AD shifts right, aggregate output increases, and prices fall.
B) AD shifts right, aggregate output increases, and prices rise.
C) AD shifts left, aggregate output decreases, and prices fall.
D) AD shifts left, aggregate output decreases, and prices rise.
Ans: B) AD shifts right, aggregate output increases, and prices rise.
Economics
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Economics
Althea, a brilliant new Ph.D. in economics, has turned down many job offers because she hopes eventually to teach at one of the top 10 universities in her field. The type of unemployment she is experiencing is:
a. frictional. b. structural. c. seasonal. d. cyclical. e. underemployment.
Economics