The main effect of an increase in capital stock is a(n):
a. rightward shift of the long-run aggregate supply curve.
b. rightward shift of the aggregate demand curve
c. leftward shift of the long-run aggregate supply curve.
d. leftward shift of the aggregate demand curve.
e. increase in price and output levels.
a
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If the demand for labor ________, real wages fall and the amount of labor employed ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
According to the World Bank, the high-income oil-exporting nations like Libya, Saudi Arabia, Kuwait, and the United Arab Emirates:
a. are considered to be still-developing countries. b. are the major trade partners of the U.S. c. are considered as underdeveloped economies. d. have highly interdependent economies. e. are considered highly-developed countries.
The marginal-cost curve intersects the average-total-cost curve at the minimum point of the marginal-cost curve
a. True b. False Indicate whether the statement is true or false
Which of the following could cause a recession?
a) An increase in consumption b) An increase in saving c) An increase in investment d) An increase in government purchases e) An increase in exports