Self-driving trucks greatly reduce the costs of shipping goods. What is the result on the aggregate demand for labor?
A. The aggregate labor demand curve is unchanged, but there is a movement along the curve.
B. The aggregate labor demand curve shifts up.
C. The aggregate labor demand curve shifts down for low levels of employment and down for high levels of employment.
D. The aggregate labor demand curve shifts down.
Answer: B
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Joe's Pizza Shop only makes pizza. If each pizza requires five people, each of whom specializes in one task, this method of production is an example of
A) economies of scope. B) team production. C) economies of monitoring. D) economies of coordination.
For each of the following, how would they be included in the national income accounts?
a. The University of California buys a new computer. b. Charles buys a new MP3 player. c. Marian buys a new mountain cabin. d. Vikki buys an old mansion with hopes of restoring it. e. Farmer Brown buys a used combine harvester.
The figure at right shows the demand and marginal cost curves for a monopoly. The deadweight loss of this monopoly equals
A. C
B. c+f.
C. h
D. c+d+e+f.
According to liquidity preference theory, the money-supply curve is
a. upward sloping. b. downward sloping. c. vertical. d. horizontal.