The MRP of labor will shift to the right if
A) labor productivity increases.
B) labor productivity decreases.
C) wages increase.
D) wages decrease.
Answer: A
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Suppose good X is on the horizontal axis, good Y is on the vertical axis, and the slope of an individual's budget line is -2. Which of the following is true??
a. Good Y is twice as expensive as good X b. ?The consumer gives up two units of good Y for each unit of good X she purchases. c. ?The opportunity cost of good X is one half of a unit of good Y. d. ?All of the above are correct.
Refer to the scenario above. Tom will receive ________ if he raises his right hand and Sam raises his left hand
A) 3 candy bars B) 0 candy bars C) 2 candy bars D) 1 candy bar
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.
Invention is the act of generating a new idea
a. True b. False Indicate whether the statement is true or false