The long-run adjustment to a negative supply shock results in
A) the price level rising.
B) the short-run aggregate supply curve shifting to the right.
C) workers being willing to accept higher wages.
D) unemployment rising.
B
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In the prisoners' dilemma, each player is ________ regardless of the other players' actions
A) forced to confess B) forced to deny C) better off confessing D) better off denying E) going to go free
As tax rates rise linearly, DWL also rises linearly. ?
Answer the following statement true (T) or false (F)
Workers expect inflation to fall from 4% to 1% next year. As a result, this should
A) move the economy up along a stationary short-run aggregate supply curve. B) shift the short-run aggregate supply curve to the right. C) shift the short-run aggregate supply curve to the left. D) move the economy down along a stationary short-run aggregate supply curve.
A good for which it is impossible or at least very costly to exclude nonpaying customers from receiving the good and for which many individuals can share in the consumption of the same unit of the good is called a
a. public good. b. joint good. c. excludable good. d. national good.