In macroeconomic modelling, as price flexibility increases ________
A) the short-run aggregate supply schedule will get flatter
B) the short-run aggregate supply schedule will get steeper
C) the short-run aggregate supply schedule will shift to the right
D) the short-run aggregate supply schedule will shift to the left
B
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A major factor contributing to the growth in employee-based health insurance in the United States has been
a. greater than average economic growth leading to increased demand for labor. b. the tax free treatment of health insurance as an employee benefit. c. legislation requiring all firms to provide health insurance to all full-time workers. d. the long standing tradition in the United States of providing a generous package of benefits to all workers.
The most likely complementary good for cereal would be:
A. milk. B. a bagel. C. a sub sandwich. D. pizza.
Other things equal, an increase in input prices will:
A. reduce aggregate supply and reduce real output. B. increase the interest rate and lower the international value of the dollar. C. increase aggregate supply and increase the price level. D. increase net exports, increase investment, and reduce aggregate demand.
The demand for a particular brand of shoes decreased due to a change in consumers' tastes and preferences. This will lead to a(n) ________, assuming all else equal
A) downward movement along a firm's labor demand curve B) rightward shift of the firm's labor demand curve C) upward movement along a firm's labor demand curve D) leftward shift of the firm's labor demand curve