Economic growth due to labor force expansion or capital investments will result inI.A leftward shift of short-run aggregate supply.II.A rightward shift in long-run aggregate supply.
A. I only
B. II only
C. Both I and II
D. Neither I nor II
Answer: B
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A decrease in short-run aggregate supply ________ the equilibrium price level and ________ the equilibrium quantity of real GDP
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
The features of the U-Form of firm organization are
a. workers have trouble developing a high degree of functional expertise b. it is difficult for employees to share information across positions within a division c. employee evaluation is hampered by managers having different skill sets than workers d. coordination across divisions is essential and is a burden on management
Belarus has a comparative advantage in the production of linen, but Russia has an absolute advantage in the production of linen. If these two countries decide to trade,
a. Belarus should export linen to Russia. b. Russia should export linen to Belarus. c. trading linen would provide no net advantage to either country. d. Without additional information about opportunity costs, this question cannot be answered.
When a night watchman only performs two walk-throughs per night when he is being paid to perform five walk-throughs per night, it is an example of
a. both moral hazard and adverse selection. b. neither moral hazard nor adverse selection. c. moral hazard, but not adverse selection. d. adverse selection, but not moral hazard.