Other things being equal, the effects of an increase in the price of computers would best be represented by which of the following?
A. A movement up along the demand curve for computers.
B. A movement down along the demand curve for computers.
C. A leftward shift in the demand curve for computers.
D. A rightward shift in the demand curve for computers.
Answer: A
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Refer to Table 20.2. Is the tax system represented in the table progressive, regressive, or neither one? How can you tell?
What will be an ideal response?
According to the textbook, the union wage premium for workers with the same amount of human capital is about ________.
A. 30 percent B. 20 percent C. 40 percent D. 10 percent
The various studies of the size of the fiscal multiplier by different economists suggest
A) general agreement that the fiscal multiplier value is relatively high. B) general agreement that the fiscal multiplier value has a range between 0.8 and 1.2. C) general agreement that the fiscal multiplier value is zero. D) there is a wide range of opinion on the size of the fiscal multiplier.
The marginal revenue product of labor is the:
A. change in labor necessary to produce an additional unit of output. B. cost of additional labor necessary to produce an additional unit of output. C. change in output resulting from adding an additional unit of labor. D. change in revenue resulting from adding an additional unit of labor.