Which of the following will cause the aggregate supply curve to shift to the left?
A. A lower tax rate.
B. Deregulation of production processes.
C. A higher minimum wage.
D. More job and skills training.
C. A higher minimum wage.
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Use the figure below to answer the following question.
If actual production and consumption occur at Q1 and the price is P2, deadweight loss equals area
A. f. B. b. C. d. D. b + d.
A firm faces the following relationship between the real wage it pays and the effort exerted by its workers. The marginal product of labor for this firm is given by MPN = E (100 - N)/9. How many workers will the firm employ?
A) 96 B) 92 C) 88 D) 80
National defense and coastal lighthouses are examples of
A. public goods. B. private goods. C. high marginal cost goods. D. depletable goods.
When economists refer to investment expenditures they mean the
A. use of today's resources to expand tomorrow's production or consumption. B. purchase of a consumer nondurable goods. C. purchase of stocks or bonds. D. production of intermediate goods.