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45 of 50 When there is a shift in the aggregate demand (AD) curve in the neoclassical zone of the aggregate supply curve (AS), the following will occur: O There will be significant change in price. O There will be a supply shock. O There will be minimal change in price. O There will be a change in short-run implication. 46 of 50 Inflation is best defined as O a sustained increase in the price of ALL goods and services in an economy. O a relative price increase. a sustained increase in the average of all prices of goods and services in an economy. O a sustained increase in the price of a single good or service. 47 of 50 Alma decided she wants to leave the hot weather of Arizona and move to the cooler climate of Colorado. To do this, she quit her job at the bank and will look for another job in Denver. Which type of unemployment would this be considered? O Cyclical unemployment O Frictional unemployment O Seasonal unemployment O Structural unemployment 48 of 50 People that are no longer looking for work because they are convinced that they will not find a job are considered O structurally unemployed. O discouraged workers. O part of the labor force. O underemployed.The spending approach (demand) for measuring gross domestic product (GDP) adds together: 0 wages and salaries, rent, interest, and profit. 0 consumption, investment, government purchases, and trade balance. 0 consumption, government purchases, wages and salaries, and trade balance. O consumption, interest, government purchases, and trade balance. 25 0f 50 Afundamental principle in demand analysis is that a change in price leads to O a rightward shift of the demand curve. O a movement along the demand curve. 0 a leftward shi of the demand curve. 0 a complementary movement on the supply curve. 26 0f 50 Which of the following is counted in the gross domestic product in a given year? 0 The sale of Amazon stock 0 The sale of a used Mustang convertible O The dollar value of the housework done by a stayathome morn O The sale of a new guitar 27 0f 50 The population of Jamestown is 100,000. Of the population 16 years and older, 50,000 are employed, 10,000 have never worked and are not looking for work, 5,000 are not working and are looking for work, and 15,000 are retired and not looking for work. The labor force equals O 50,000. O 65,000. 0 55,000. 0 80,000