Which of the following would cause the long-run aggregate supply curve to shift to the left?
A. an increase in wages
B. a decrease in aggregate demand
C. a decrease in taxes on profits
D. a decrease in labor productivity
Answer: D
You might also like to view...
Some persons are counted as out of the labor force because they have made no serious or recent effort to look for work. However, some of these individuals may want to work even though they are too discouraged to make a serious effort to look for work. If these individuals were counted as unemployed instead of out of the labor force, then
a. both the unemployment rate and labor-force participation rate would be higher. b. the unemployment rate would be higher ,and the labor-force participation rate would be lower. c. the unemployment rate would be lower, and the labor-force participation rate would be higher. d. both the unemployment rate and labor-force participation rate would be lower.
Governments usually accept goods inflation as long as it stays low, which for the United States currently means around:
A. 5.5 to 6 percent. B. 3.5 to 4 percent. C. 1 to 2.5 percent. D. 7.5 to 8 percent.
Marginal cost begins to rise when
A. diminishing marginal product ends. B. average total cost falls. C. fixed cost falls. D. diminishing marginal product begins.
An outward shift in the consumer demand for wheat will
A. raise the price of wheat and shift out the marginal revenue product of labor producing wheat. B. lead to more capital and less labor used in producing wheat. C. raise the price of wheat and shift inward the marginal revenue product of labor producing wheat. D. lead to downward pressure on the wages of those producing wheat.