An increase in government expenditure shifts the ________
A) labor demand curve to the left B) labor supply curve to the left
C) labor demand curve to the right D) labor supply curve to the right
C
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If the economy receives an influx of new workers from immigration,
A) we will move down along the long-run aggregate supply curve. B) we will move up along the long-run aggregate supply curve. C) the long-run aggregate supply curve will shift to the right. D) the long-run aggregate supply curve will shift to the left.
The multiplier for changes in government spending is calculated as
a. 1/(1+MPC). b. (1 - MPC)/MPC. c. 1/MPC. d. 1/(1 - MPC).
During the twentieth century, the U.S. farm sector experienced
A) large increases in its ability to produce output. B) relatively little improvement in its ability to produce output. C) a marked decrease in its ability to produce output. D) relatively stable demand for its output. E) increasing relative prices for its output.
Suppose the court system begins to make it easier for plaintiffs to win large payments from doctors and other medical professionals who are accused of malpractice. What result would you expect?
A. Doctors would order more diagnostic tests and treatment procedures even when the costs of those procedures exceed the benefits to the patient. B. Claims on medical insurance plans would probably fall. C. The cost of medical care would fall because doctors would avoid expensive tests and treatments. D. More people would seek training to become medical professionals because they would be able to make more money ordering tests and treatment procedures.