The output per acre on U.S. farms has
a. remained fairly stagnant since 1968
b. increased only slightly since 1968
c. declined dramatically since the late 1970s
d. more than doubled since World War II
e. shown a marked decline in recent years
D
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When the natural unemployment rate ________, the short-run Phillips curve shifts ________ and the long-run Phillips curve shifts ________
A) increases; rightward; rightward B) increases; rightward; leftward C) decreases; rightward; rightward D) decreases; leftward; rightward E) increases; leftward; leftward
A decrease in the wage rate
A) shifts the firm's demand for labor curve rightward. B) shifts the firm's demand for labor curve leftward. C) leads to a movement along the demand for labor curve but does not shift the curve. D) None of the above answers is correct.
Redistribution programs that reduce poverty and income inequality
A. always increase GDP. B. always decrease GDP. C. usually increase GDP. D. usually decrease GDP.
Which of the following is most likely to be a variable cost for a firm?
A) The interest payments made on loans B) The franchiser's fee that a restaurant must pay to the national restaurant chain C) The monthly rent on office space that it leased for a year D) The payroll taxes that are paid on employee wages