What would happen to the planned investment function if business taxes were decreased?
A. There would be a upward movement along the function.
B. It would shift to the right.
C. It would shift to the left.
D. There would be no change.
Answer: B
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If the labor force participation rate in an economy is 50%, and there are 100 million potential adult workers in the economy, the size of the labor force in the economy will equal:
A) 10 million. B) 2 million. C) 100 million. D) 50 million.
Which of the following statements about leading economic indicators is true?
a. Most people refer to them before making any important spending decision. b. They are the only economic indicators available to economists c. They indicate when an economy is in a recession or an expansion. d. They foreshadow turning points in the business cycle. e. They can predict precisely when turning points in an economy will occur.
The theory of economic rent can be used to explain high incomes received by movie stars and athletes
a. True b. False Indicate whether the statement is true or false
In Figure 6.2, the price is $20 and the shaded area represents:
A. producer surplus. B. consumer surplus. C. market equilibrium. D. a price ceiling.