As you move up an indifference curve, the absolute value of the slope
A. decreases.
B. remains constant.
C. increases.
D. initially increases and then decreases.
Answer: C
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The existence of union wages, efficiency wages, and the minimum wage
A) raises the real wage rate above the equilibrium wage rate and raises the natural unemployment rate. B) lowers the real wage rate below the equilibrium wage rate and creates a shortage of labor. C) raises the real wage rate above the equilibrium wage rate and creates a shortage of labor. D) raises the real wage rate above the equilibrium wage rate and lowers the natural unemployment rate. E) does not have an impact on the equilibrium wage rate or on the amount of unemployment.
In the figure above, the producer surplus is
A) $60,000. B) $100,000. C) $40,000. D) $80,000. E) $50,000.
The most popular diagnosis of poverty is Flawed Character
Indicate whether the statement is true or false
Assuming a long-run aggregate supply curve, a decrease in government spending results in ________ in output and ________ in price level
A) no change; a decrease B) an increase; no change C) no change; an increase D) a decrease; a decrease