Productivity increases, brought about by increased education and training, may shift the aggregate supply curve outward
a. True
b. False
Indicate whether the statement is true or false
True
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If the currency drain ratio increases, how can the Fed adjust the monetary base to offset the effect on the quantity of money?
What will be an ideal response?
The introduction of a tax in a perfectly competitive marketplace that is originally in equilibrium will only affect consumer’s surplus and not producer’s surplus.
Answer the following statement true (T) or false (F)
Figure 11-1
?
In Figure 11-1, a cost-reducing technological breakthrough in calculator production would cause which movement?
A. A to D B. A to C C. A to B D. A to E
By restricting the amount of a good that may be imported, quotas:
a. increase the price, thus causing domestic producers to sell less than they would with free trade. b. lower the price, thus allowing domestic producers to sell more than they would with free trade. c. increase the price and allow domestic producers to sell more at a higher price than they would with free trade. d. lower the price, thus causing domestic producers to realize lower total revenue from the quota item. e. simply replace foreign production with domestic production.