An increase in the wage will cause the output supply curve in the one-input model to shift in unless labor is an inferior input.
Answer the following statement true (T) or false (F)
False
Rationale: There is no such thing as an "inferior input" because there are no such things as income effects in producer models. An increase in the wage will always cause supply curves to shift in.
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A) a rise in wages B) an increase in the money supply C) a fall in investor confidence D) an increase in the price level
By 1850, the single largest U. S. commodity export (in terms of value) was:
a. iron railroad tracks. b. wheat. c. cotton. d. slaves.
Corporate profits are taxed twice
a. True b. False Indicate whether the statement is true or false
Given the following sectoral trade data, in which case is the level of intra-industry trade in country A different from that in country B?
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