Which of the following fiscal programs is least likely to affect aggregate demand?
a. Defense spending
b. Road construction
c. Grants for scientific research and development
d. Social Security for women
e. Government purchases of labor
d
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Skill-biased technological has different effects on the marginal products of ________ workers and ________ workers.
A. higher-skilled; lower-skilled B. government; private-sector C. male; female D. union; nonunion
Refer to Figure 9.3. If the government establishes a price ceiling of $1.00, producer surplus will
A) fall by $150. B) fall by $300. C) remain the same. D) rise by $150. E) rise by $300.
Inferior goods are low quality goods that people prefer to buy less of
a. True b. False Indicate whether the statement is true or false
As a result of advertising prices in monopolistic competition, are
a. higher because firms earn economic profits in the long run b. higher because increased output leads to higher production costs per unit c. lower if increased output allows lower average production costs per unit that more than offset the advertising costs d. lower if advertising costs per unit fall as output increases e. higher because advertising shifts each firm's demand curve to the right and make it flatter