If Techland's government reduces tax rates, ________
A) the economy's labor demand curve will shift to the left
B) the economy's labor supply curve will shift to the left
C) the economy's aggregate supply curve will shift to the left
D) the economy's labor demand curve will shift to the right
D
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Over the last decade, a country experiences a significant increase in labor productivity
a. Draw and label a labor market supply and demand diagram. Show how the equilibrium real wage rate and the equilibrium quantity of labor change as productivity increases. b. Draw and label a production function. Show how potential GDP changes as labor productivity increases.
At which point is society producing some of each type of structure but still producing inefficiently? (See Figure 1.1.)
A. A. B. B. C. C. D. D.
Efficiency and equity are synonymous.
Answer the following statement true (T) or false (F)
Shift to the left or right for supply: business taxes decrease or subsidaries increase
What will be an ideal response?