An increase in the level of immigration into a nation would cause the:
A. long-run aggregate supply curve to shift to the right.
B. long-run aggregate supply curve to shift to the left.
C. short-run aggregate supply curve to shift to the left.
D. long-run aggregate supply to remain fixed.
A. long-run aggregate supply curve to shift to the right.
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A central bank's attempt to prevent an appreciation of its currency can stimulate domestic inflation if the ________ of its currency leads to ________ international reserves which ________ the monetary base
A) purchase; higher; increases B) purchase; lower; decreases C) sale; lower; decreases D) sale; higher; increases
The above figure shows the payoff matrix for two firms, A and B, selecting an advertising budget. The firms must choose between a high advertising budget and a low advertising budget. A Nash equilibrium
A) occurs when both firms select a high advertising budget. B) exists at any of the four possible strategy combinations because there is never an incentive to change strategy. C) is for both firms to choose the low advertising budget because this yields the highest joint profit. D) does not exist because firm A does not have a dominant strategy.
When the current state of the economy is such that Real GDP is equal to Natural Real GDP, the economy is in ____________________ . In this situation, the (actual) unemployment rate is ___________ the natural unemployment rate, and there is ________________ in the labor market
A) long-run equilibrium; equal to; equilibrium B) inflationary; less than; a shortage C) long-run equilibrium; greater than; equilibrium D) recessionary; greater than; a surplus E) recessionary; less than; equilibrium
The official fiscal year budget deficits disappeared from 1998 to 2001.
Answer the following statement true (T) or false (F)