Which of the following statements is true?
A) An increase in the money wage rate shifts the AS curve rightward.
B) A fall in the price level shifts the AS curve leftward.
C) A decrease in potential GDP decreases aggregate supply and shifts the AS curve leftward.
D) An increase in the money wage rate increases potential GDP.
E) An increase in potential GDP increases aggregate supply and shifts the AS curve leftward.
C
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Suppose you see a 2012 Ford Mustang GT advertised in the local newspaper for $15,000. If you knew the car was reliable, you would be willing to pay $17,000 for it. If you knew the car was unreliable, you would only be willing to pay $12,000 for it
Under what circumstances should you buy the car?
The immigrants most likely to go directly to the lands in the West, rather than be absorbed into the eastern city populations, were from
a. England and Scotland. b. Germany c. Ireland. d. France.
On a graph with x on the horizontal axis and y on the vertical axis, the origin is
a. the point where x = 0 and y = 0 b. any point where x = 0 c. any point where y = 0 d. where a curve intersects the vertical axis e. where a curve intersects the horizontal axis
The smaller the quantity and quality of complementary resources used in production,
a. the greater the demand for labor b. the greater the marginal resource cost of labor c. the lower the marginal resource cost of labor d. the lower the marginal productivity of labor e. the greater the marginal productivity of labor