Refer to Scenario 14.4. Suppose that the price of the product rises to $5. Which of the following curves shifts?
A) MP curve
B) MRP curve
C) Supply of labor curve
D) Marginal expenditure curve
B
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To the extent that the value of money is less predictable, it becomes
A) more acceptable as a store of value. B) less acceptable as a medium of exchange. C) more acceptable as a standard of deferred payment. D) more acceptable as a unit of account.
Over the past half-century, government transfer payments have increased. As a result ________
A) interest payments on government debt have declined B) government expenditures have become a larger portion of GDP C) the volatility of investment expenditures has declined D) net exports have been positive in most years E) none of the above
Refer to the above figures. Which of the panels would be consistent with the situation in which external benefits exist?
A) Panel 1 B) Panel 2 C) Panels 1 and 2 D) neither panel
The marginal productivity theory is irrelevant to organizing production in a socialist society
a. True b. False Indicate whether the statement is true or false