If money wages increase, the most likely result is a(n)
A. increase in aggregate supply.
B. decrease in aggregate supply.
C. steeper aggregate supply curve.
D. flatter aggregate supply curve.
Answer: B
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The term "fiscal federalism" refers to
a. deficit financing of government programs. b. the power of Congress to tax and to determine how tax revenues are spent. c. transferring money between levels of government (for example, from a state government to a local government). d. the system under which governments ask citizens to vote on major revenue-raising measures (for example, on issues of municipal bonds).
From the supply-side perspective, the economy may fail to reach full employment because of
A. Declining costs. B. Taxes that are too high. C. Lack of government regulation. D. Production incentives.
NAFTA was a controversial issue in the 2008 presidential campaign, particularly in the Democratic primaries
Indicate whether the statement is true or false
With fixed costs of $200, a firm has average total costs of $5 and average variable costs of $3 . Its output is: a. 66.67 units
b. Need more information c. 100 units. d. 40 units.