Refer to the diagram for a specific economy. A reduction in structural unemployment or bottleneck problems in labor markets will:
A. shift this curve to the right.
B. shift this curve to the left.
C. move this economy southeast along the curve.
D. move this economy northwest along the curve.
B. shift this curve to the left.
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In the figure above, the MRS at point A is ________ the MRS at point B
A) equal to B) less than C) greater than D) not able to be compared to
Which of the following is a basic human need?
a. Transportation b. Healthcare c. Money for gas d. College level education e. Savings
In a perfectly competitive industry, the firm's marginal revenue curve is
A) downward sloping. B) upward sloping. C) vertical. D) horizontal.
A tax on a good whose demand is perfectly price inelastic will be effective in discouraging consumption of that good.
Answer the following statement true (T) or false (F)