While labor unions tend to negotiate above-equilibrium wage rates for their members, they also tend to reduce the quantity of labor hired
Indicate whether the statement is true or false
TRUE
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Which of the following would NOT shift the U.S. aggregate demand curve?
A) a change in income in Canada B) a change in the quantity of capital in the United States C) an expectation that inflation will be lower in the future D) U.S. monetary and fiscal policy
Output (Total Product) is maximized when
A) average productivity is at its maximum. B) the "law of diminishing returns" sets in. C) marginal productivity is zero. D) marginal productivity is at its maximum.
Producers are willing to offer greater quantities for sale at higher prices because
What will be an ideal response?
When successfully implemented, contractionary fiscal policy will cause
A. a leftward shift of the aggregate demand curve. B. a downward movement along the aggregate demand curve. C. an upward movement along the aggregate demand curve. D. a rightward shift of the aggregate demand curve.