All of the following would shift the LRAS curve to the right EXCEPT
A) an increase in the size of the labor force.
B) a net inflow of human capital.
C) an increase in the overall price level.
D) an improvement in technology.
C
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Use the following table to answer the question below. Dave's Production Possibilities SchedulePounds of Green BeansPounds of Corn0160201204080604080 0Dave's opportunity cost of producing 1 pound of corn is ________ pound(s) of green beans.
A. 1 B. 4 C. 1/2 D. 2
If the Chinese government sets a price ceiling below the equilibrium price, the result will be I. an increase in the quantity demanded. II. a decrease in the quantity supplied. III. a shortage
A) I only B) I and II only C) III only D) I, II, and III
Suppose that two firms are producers of spring water, which can be obtained at zero cost. The market demand curve for their combined output is p = 100 - Q where p is the price and Q is the amount of spring water sold by both together. If the two producers act in accord with the Cournot model, their combined output will be
A. 66.66. B. 0. C. 50. D. 33.33.
Using the income approach, net interest is included because
A. households both receive and pay interest. B. households pay but do not receive interest and firms receive but do not pay interest. C. firms pay but do not receive interest and households receive but do not pay interest. D. it is income to the government but not to households nor firms.