If the price level falls and the money wage rate does not change, some firms ________ and there is ________
A) shut down; a leftward shift of the aggregate supply curve
B) start up; a rightward shift of the aggregate supply curve
C) start up; an increase in potential GDP
D) shut down; a decrease in the quantity of real GDP supplied
E) shut down; a decrease in potential GDP
D
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As the quantity of actions taken to reduce the probability of an accident increases, the expected marginal benefit curve ________.
A) decreases B) remains constant C) increases D) becomes vertical
The supply function for good X is given by Qxs = 1,000 + PX - 5PY - 2PW, where PX is the price of X, PY is the price of good Y and PW is the price of input W. If PX = 100, PY = 150, PW = 50, then the supply curve is
A. Qxs = 150 + Px. B. Qxs = 550 + Px. C. Qxs = 350 + Px. D. Qxs = 550.
A cost that has already been paid and cannot be recovered
What will be an ideal response?
What is the underground economy and how could it hurt an economy? How does it hurt developing economies?
What will be an ideal response?