When the wages paid to government economists increase, the labor supply curve for academic economists
a. shifts to the left.
b. shifts to the right.
c. will become backward-sloping.
d. will not change.
a
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The demand curve faced by a perfectly competitive firm is:
a. downward sloping. b. the same as the market demand curve. c. horizontal. d. perfectly inelastic.
When comparing price elasticities of demand in the long run to the short run, what can we say about the long-run elasticities?
a. Within every price range, the price elasticity of demand is more elastic. b. Consumers are less sensitive to price changes. c. Consumers are inclined to make fewer adjustments to quantity demanded when price changes d. Within every price range, the price elasticity of demand is less elastic. e. Because consumers had more time to adjust to a price decrease or increase, their reaction to either is much smaller.
Answer the following statements true (T) or false (F)
1) Operation Twist was aimed at lowering long-term interest rates. 2) Other things equal, an expansionary monetary policy will shift the economy's aggregate demand curve to the right. 3) A restrictive monetary policy may be frustrated if the investment-demand curve shifts to the left. 4) A restrictive monetary policy reduces investment spending and shifts the economy's aggregate demand curve to the right.
Of the following high-income countries, which has the highest number of CT scanners per 1 million population?
A) Canada B) Japan C) the United Kingdom D) the United States