The demand curve for labor of Coca-Cola manufacturers will not shift to the right if:
a. d and e.
b. the price of Coca-Cola increases.
c. the firms innovate with new technology that raises labor productivity.
d. the price of Pepsi decreases.
e. Coca-Cola workers become unionized.
a
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Ricardian equivalence is the proposition that
A) government expenditure should only be financed by taxes. B) it does not matter whether government expenditure is financed by creating new money or issuing debt. C) government expenditure should only be financed by issuing new debt. D) it does not matter whether government expenditure is financed by taxes or debt.
In Figure 3-7 above, the marginal propensity to save is
A) 1. B) 5. C) 0.5. D) 0.2.
Free-riding by online retailers results in a(n) ________ amount of product-specific services, which ________ harm the manufacturer.
A) optimal; does B) sub-optimal; does C) sub-optimal; does not D) optimal; does not
Explain the reason behind the declining gap between average cost (AC) and average variable cost (AVC) curves at higher levels of output