The typical movement of the aggregate supply curve resulting from an increase in productivity is that it
a. shifts inward and becomes flatter.
b. shifts inward.
c. shifts outward.
d. becomes flatter.
e. becomes steeper.
c
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Based on the graph showing the 2016 U.S. health dollar, which two of the following categories make up roughly half of all health care expenditures?
a. hospital care; physician and clinical services
b. hospital care; prescription drugs
c. nursing homes and home health care; prescription drugs
d. prescription drugs; other spending
Relating to the Economics in Practice on page 337: A number of companies are using their own internal carbon taxes to reflect the social cost of carbon emissions on the environment. The price per ton of carbon emissions that they are using
A) has been set by the government. B) has been agreed to by the private sector. C) is not standardized. D) is the price established by the EPA
Real wages increased in industrialized countries in the twentieth century because the demand for labor:
A. decreased, while the supply of labor increased. B. increased more slowly than the supply of labor increased. C. increased, while the supply of labor decreased. D. increased more rapidly than the supply of labor increased.
Suppose the market wage for cashiers increases from $7 per hour to $9 per hour. As a result, Pat, who is a cashier, now works five more hours per week. On the other hand Chris, who is also a cashier, now works five fewer hours per week. Chris's behavior illustrates the ________ effect of a wage increase.
A. demand B. supply C. substitution D. income