Question;Eco 405 Chap 13 quiz? Question 1 Which of the following best describes when the economy is experiencing inflation? When? Question 2 Technological change in an industry that historically required specific labor skills will lead to? Question 3 A useful measure of the size of the workforce, that is, the number of individuals who are willing and able to work, is? Question 4 If inflation causes the demand for houses to increase more rapidly than the demand for other goods, the economy has experienced which effectof inflation?? Question 5 In an economy like that of the US, due to a variety of institutional and social factors, wages tend to be? Question 6 Which price index is also known as the cost-of-living index?? Question 7 The psychological law of consumption tells us the marginal propensity to consume will be? Question 8 The effects of inflation on the distribution of income are called? Question 9 In the circular flow diagram, economic units are classified as? Question 10 Aggregate demand? Question 11 The Phillips curve depicts the relationship between? Question 12 The determinants of aggregate supply are? Question 13 Which of the following is most likely be hurt by inflation?? Question 14 People who are unemployed due to a downturn in economic activity are classified in the category of? Question 15 If inflation stimulates production and employment, the economy experiences which of the following effects of inflation?
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