The figure above shows the U.S. production function. How would an increase in unemployment benefits be shown in the figure?
A) a movement from point C to point B
B) a movement from point A to point B
C) an upward shift or rotation of the production function
D) a downward shift or rotation of the production function
E) None of the above because the effects of an increase in unemployment benefits cannot be shown in the figure.
A
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In the above figure, if the real interest rate is 4 percent, then there
A) there is a surplus of loanable funds. B) is equilibrium in the loanable funds market. C) the real interest rate will rise. D) the demand curve for loanable funds will shift rightward.
Refer to Table 1-1. Using marginal analysis, how many hours should Eva extend her bakery's hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours
We will keep buying digital music downloads from the Internet until the marginal utility of the music downloads
A. rises to the price of the download. B. falls to the price of the download. C. is greater than the price of the download. D. is less than the price of the download.
One key assumption of the theory of public choice is that individuals
A) are always in favor of the collective well-being of the public instead their own well-being. B) are always concerned about the well-being of other individuals in society. C) act differently between the public sector and the market sector. D) act within the political process to maximize their individual well-being.