A decrease in the marginal physical product of labor shifts the demand for labor curve to the right
a. True
b. False
Indicate whether the statement is true or false
False
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Using the data in the table above, gross domestic product equals
A) $1,920. B) $1,940. C) $2,150. D) $2,400.
Expansionary monetary policy causes a ________ the MP curve and a ________ the aggregate demand curve
A) movement to the right along; shift to the right of B) downward shift of; shift to the right of C) movement to the left along; movement down along D) upward shift of; shift to the right of
The country of Erbia has been experiencing high unemployment over a period of seven years. A likely outcome of such a situation is that potential GDP will fall
a. True b. False Indicate whether the statement is true or false
GDP could be calculated over:
A. a month. B. a quarter. C. a year. D. any time period.