When wage rates rise the short-run aggregate supply curve shifts to the right
Indicate whether the statement is true or false
False
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Double taxation refers to
A) individuals paying taxes on wage income and individuals paying taxes on dividends. B) corporations paying taxes on capital gains and individuals paying taxes on wage income. C) corporations paying taxes on profits and individuals paying taxes on dividends. D) corporations paying taxes on profits and individuals paying taxes on wage income.
Refer to Figure 8.1. The profit-maximizing output is
A) 30. B) 54. C) 60. D) 67. E) 79.
A firm with positive accounting profit may be suffering an economic loss
a. True b. False
Which one of the following will determine the size of the production possibilities curve?
a. amount of labor b. amount of capital c. entrepreneurship d. all of the above