Aggregate Supply, Unemployment And Inflation

A. Shifts in aggregate supply
B. changes in export demand due to the state of the world economy
C. business confidence
D. business expectations

A. the contention that workers in one industry may be unwilling to accept a wage cut unless they know that workers in other industries are receiving similar cuts
B. employment contracts that stipulate workers’ wages usually for a period of one to three years
C. unspoken agreements between workers and firms that firms will not cut wages
D. the incentive that firms may have to hold wages above the market clearing rate

A. a nominal money stock target
B. a balanced budget
C. an inflation target
D. The pursuit of a target real interest rate

A. higher, lower
B. higher, higher
C. lower, lower
D. zero, zero

A. monetary growth
B. better technology
C. more capital
D. higher labor supply

A. the goods market
B. the money markets
C. the labor markets
D. all of these

A. exceeds
B. fall below
C. fluctuate around
D. remain equal to

A. prices, wages, output and employment
B. output prices, employment
C. nominal money, the price level, output and employment
D. nominal money output prices

A. rise
B. fall
C. not changes
D. fluctuates

A. the inflation rate, interest rates
B. the inflation rate, the unemployment rate
C. interest rates, output
D. output, employment