Refer to the below graph. What will shift D2 to D1?
Use the following graph to answer question about the labor resource market faced by producers of good X:
A. A decrease in the price of a substitute input (if the output effect > substitution effect)
B. An increase in the price of a substitute input (if the substitution effect > output effect)
C. An increase in the price of a substitute input (if the output effect > substitution effect)
D. A decrease in the price of a complementary resource
C. An increase in the price of a substitute input (if the output effect > substitution effect)
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In a model with leisure hours and a composite consumption good, you cannot tell whether workers will work more or less if tastes are quasilinear in the consumption good.
Answer the following statement true (T) or false (F)
What is the natural unemployment rate?
What will be an ideal response?
Which of the following had the greatest impact in pulling the U.S. economy out of the Great Depression?
a. The economy's natural tendency to contract toward potential output b. The federal government's aggressive policy of tax cuts c. The federal government's aggressive policy of monetary stimuli d. A precipitous drop in aggregate demand e. Increased spending during World War II
When real GDP increases, this implies that the production of goods and services has risen
a. True b. False Indicate whether the statement is true or false