A temporary increase in government purchases in the classical model would
A) shift the production function to the right.
B) shift the marginal product of labor curve to the left.
C) shift the labor demand curve to the right.
D) shift the labor supply curve to the right.
D
You might also like to view...
The total production within an economy is measured as
A) Total Domestic Output. B) Total Annual Output. C) Annual Production Value. D) Gross Domestic Product. E) Gross Home Product.
If the United States changed its laws to allow for the legal sale of a kidney, which of the following is likely to occur?
a. The price of kidneys would rise to balance supply and demand. b. The gains from trade would make both buyers and sellers better off. c. Thousands of lives would be saved. d. All of the above are correct.
It is ______ that a tariff, unlike a quota, provides revenues to the government; it is ________ that a quota directly limits the quantity of a nation's imports from a specific country.
A. true; true B. false; false C. false; true D. true; false
Given that resources are scarce,
A. Poor countries must make choices, but rich countries with abundant resources do not have to make choices. B. A "free lunch" is possible, but only for a limited number of people. C. Opportunity costs are experienced whenever choices are made. D. Some choices involve opportunity costs while other choices do not.