If workers become more productive as a result of a new technology, the demand for these workers will decrease because the firm will not need to hire as many
Indicate whether the statement is true or false
F
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Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
The market demand curve is the horizontal summation of all individual demand curves.
Answer the following statement true (T) or false (F)
The current deregulatory movement began to change laws to deregulation in the
a. early 1970s. b. late 1970s. c. early 1980s. d. early 1990s.
Laissez faire refers to a program of minimal interference in the market system
a. True b. False Indicate whether the statement is true or false