The long-run aggregate supply curve is upward sloping
Indicate whether the statement is true or false
FALSE
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Input choices in the present are often affected by past decisions.
Answer the following statement true (T) or false (F)
When tax revenue ________ outlays is negative, then the government has a budget ________
A) minus; surplus B) divided by; surplus C) minus; deficit D) plus; deficit E) plus; surplus
Because resources are scarce, all choices involve trade-offs, which means nothing is free
Indicate whether the statement is true or false.
If workers are homogeneous and face a monopsonist,
A) they are likely to want to form a union. B) they are likely to want to negotiate one-on-one with their employer. C) it is likely that half will want to form a union, half will not. D) they are likely to move to another town.