The long-run aggregate supply curve shifts to the right when there is
A) an increase in the total amount of capital in the economy.
B) an increase in the available technology.
C) a decrease in the natural rate of unemployment.
D) A and B.
E) A, B, and C.
E
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On the gold standard, a trade deficit in the U.S. impacted the economy by producing
(a) a gain of specie. (b) a tight supply of money. (c) low interest rates. (d) deflation.
As a firm hires more workers, holding the amounts of capital and other inputs constant,
A) output increases at a decreasing rate. B) output increases at a constant rate. C) output increases for a while and then decreases. D) output increases, but we can't be certain whether output increases at an increasing or a decreasing rate.
At the federal level, the single most important tax, accounting for slightly less than half of revenue, is the:
a. corporate income tax. b. personal income tax. c. estate tax. d. property tax. e. sales tax.
A person's average tax rate equals her
a. tax obligation divided by her marginal tax rate. b. increase in taxes if her income were to rise by $1. c. tax obligation divided by her income. d. increase in taxes if her marginal tax rate were to rise 1percent.