Figure 34.2 illustrates two labor supply curves. If in-kind payments become readily available in this economy and marginal tax rates increase significantly, we would expect a shift from
A. S2 to S1 and a movement down S1.
B. S2 to S1 only.
C. S1 to S2 only.
D. S2 to S1 and a movement up S1.
Answer: A
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If consumer tastes are changing more in favor of the consumption of a particular good the:
A. market demand curve will shift to the left. B. consumer will move up a given demand curve, decreasing the quantity demanded. C. maket demand curve would shift to the right. D. consumer would move down a given demand curve, increasing the quantity demanded.
measure of the price level that includes prices of the final goods and services included in GDP
What will be an ideal response?
Assume that in Scandia, planned investment is $80 billion but actual investment is $60 billion. Unplanned inventory investment is
A. -$20 billion. B. -$10 billion. C. $70 billion. D. $140 billion.
Scarcity means that there is less of a good or resource available than people wish to have
a. True b. False Indicate whether the statement is true or false