The real wage rate is $35 an hour. At this wage rate there are 100 billion labor hours supplied and 200 billion labor hours demanded. There is a
A) shortage of 300 billion hours of labor.
B) shortage of 100 billion hours of labor.
C) surplus of 100 billion hours of labor.
D) surplus of 300 billion hours of labor.
E) shortage of 200 billion hours of labor.
B
Economics
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Cost-push inflation starts with
A) an increase in potential GDP. B) a decrease in aggregate demand. C) a decrease in aggregate supply. D) an increase in aggregate supply. E) an increase in aggregate demand.
Economics
The forecasting technique which attempts to forecast short-run changes and makes use of economic indicators known as leading, coincident or lagging indicators is known as:
a. econometric technique b. time-series forecasting c. opinion polling d. barometric technique e. judgment forecasting
Economics