If the wage paid to workers increases, the labor demand curve:
A. will not shift.
B. shifts to the left and fewer workers are hired.
C. shifts to the right and more workers are hired.
D. shifts to the right and fewer workers are hired.
Answer: A
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What actions would a modern Keynesian economist advocate to cure a recessionary gap?
What will be an ideal response?
In a simple economy (without government or foreign trade) where output can be purchased only by consumers or by firms, saving must equal
A) depreciation. B) income. C) consumption. D) investment.
An experiment refers to:
A) a simplified representation of some real life phenomenon. B) the process of collecting, measuring, and organizing data. C) validating the claims of a model using statistics and facts. D) a controlled method of investigating causal relationships among variables.