In general, as wages go up:
A. people are willing to work less.
B. the opportunity cost of leisure goes up.
C. the opportunity cost of leisure goes down.
D. people will always work more.
B. the opportunity cost of leisure goes up.
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Which nation pioneered Atlantic exploration?
a. England b. Italy c. Portugal d. Spain
Resources are efficiently allocated when production occurs at that point at which
a. marginal cost intersects average variable cost b. price is equal to average revenue c. price is equal to marginal cost d. marginal revenue equals marginal cost e. price is equal to average variable cost
Refer to the graph shown. Initially, the market is in equilibrium with price equal to $12 and quantity equal to 140. As a result of a per-unit tax imposed by the government, the supply curve shifts from S0 to S1. The effect of the tax is to:
A. reduce consumer surplus by $240. B. give government tax revenues of $100. C. reduce consumer surplus by $200. D. give government tax revenues of $280.
The government can increase aggregate demand to combat unemployment and decrease aggregate demand to combat inflation
Indicate whether the statement is true or false