A study conducted by Robert Shiller, a Yale Economist, found that a large majority of the public thinks that increases in inflation will not quickly lead to an increase in wages
Indicate whether the statement is true or false
TRUE
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Imposing a unit excise tax on the final sale of a good or service can be displayed graphically as
A) a vertical shift upward of the demand curve. B) a vertical shift upward of the supply curve. C) a vertical shift downward of the demand curve. D) a vertical shift downward of the supply curve.
Bonnie gets her hair cut at her usual salon and is very happy with the results. Later that afternoon, she goes to the mall and sees that a hair salon is giving away free haircuts only on that day. If Bonnie does not take advantage of the giveaway, it is because the:
a. marginal utility of the next haircut would be zero or negative. b. marginal utility of the next haircut would increase. c. marginal utility of the next haircut would be zero or positive. d. total utility of both haircuts would be zero or negative. e. total utility of both haircuts would be higher than just one haircut.
An unexpected increase in aggregate demand results in a decrease in real wages in the short run
a. True b. False Indicate whether the statement is true or false
Based on the graph showing marginal cost pricing versus average cost pricing, the compromise created by average cost pricing is located at point ______.
a. A
b. B
c. C
d. D