Which of the following will definitely cause the value of the misery index to increase?
A. Greater stagflation.
B. A rightward shift of the aggregate supply curve.
C. A leftward shift of the Phillips curve.
D. A rightward shift of the aggregate demand curve.
Answer: A
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Monitoring of employees
A) is only effective while the employees are working, so that payment may be withheld for shirking. B) can be effective after-the-fact if the shirking behavior can be detected later and the employee punished. C) is only effective after-the-fact when it is possible to fire them for shirking. D) None of the above.
If a horizontal merger lowers the cost of production and increases the total surplus in the market, which of the following is also likely to have occurred?
A) The producer surplus decreased. B) The consumer surplus increased. C) The consumer surplus decreased. D) The producer surplus did not change.
A monopolist maximizes profit by producing
a. At MR= rising MC b. At MR>MC c. At P=MR d. At MC=0
"When workers have a relatively small quantity of capital to use in producing goods and services, giving them an additional unit of capital increases their productivity by a relatively large amount.". This statement
a. is an assertion that production functions have the property of constant returns to scale. b. is consistent with the view that capital is subject to diminishing returns. c. is inconsistent with the view that it is easier for a country to grow fast if it starts out relatively poor. d. All of the above are correct.