If the demand curve for economics textbooks shifts to the left, then the value of the marginal product of labor for economics textbook authors will
a. rise.
b. fall.
c. remain unchanged.
d. rise or fall; either is possible.
b
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New money is created in the U.S. economy by
A) increased federal government expenditures. B) banks that create checkable deposits. C) the U.S. Treasury. D) U.S. Department of Mint. E) the U.S. Congress.
State and local governments receive the largest amount of revenue from
A. personal income taxes. B. property taxes. C. sales taxes. D. payroll taxes.
A profit-maximizing firm will continue to employ land until
A. MRPLAND = MPLAND. B. MRPLAND = 0. C. MRPLAND = PLAND. D. MPLAND = PLAND.
Assume that taxes depend on income. The MPC is 0.8 and t is 0.4. If government purchases increase by $100 billion, the equilibrium level of output will increase by
A. $16.7 billion. B. $57.5 billion. C. $192.31 billion. D. $215.9 billion.