Which of the following changes aggregate supply and shifts the aggregate supply curve? i. change in the price level ii. change in potential GDP iii. change in the money wage rate
A) i only
B) ii only
C) iii only
D) ii and iii
E) i, ii, and iii
D
You might also like to view...
Increases in the marginal product of labor result from
A) increasing the usage of all inputs. B) the division of labor and specialization. C) the use of new technology. D) hiring more efficient workers.
Suppose a new cost-saving device will forever generate $1,000 net savings per year to a firm. The device costs $10,000. Using the Internal Rate of Return approach, the firm will make the investment
A) definitely. B) definitely not. C) if the interest rate exceeds 10%. D) if the interest rate is less than 10%.
The extensive sunk costs of heavily advertised products suggest a reason for believing that those products will
A. turn out to have higher quality than unadvertised products. B. cause consumers to question their intrinsic value. C. turn out to have lower quality than unadvertised products. D. be hard to sell to the consumer without heavy persuasion.
In 2001, Microsoft was found guilty of violating:
A. Section 7 of the Clayton Act. B. Sections 1 and 2 of the Sherman Act. C. the Federal Trade Commission Act. D. Section 20 of the Wagner Act.