An increase in labor's productivity will cause the SRAS curve to shift __________ and the price level to __________
A) leftward; increase
B) rightward; decrease
C) rightward; increase
D) leftward; decrease
B
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The outflow of highly-educated workers from low-income countries to high-income countries is called:
A. Backflow B. Self-selection C. Skill transferability D. Brain drain
An important assumption that is made when constructing a supply schedule is
a. only price and quantity matter in determining supply. b. firms always want to sell a certain amount of a product. c. supply is too important to be left to the marketplace. d. all other determinants of supply are held constant. e. demand has a positive slope.
Firms that sell highly differentiated consumer goods, such as over-the-counter drugs, soft drinks, breakfast cereals, and dog food, typically spend between 10 and 20 percent of revenue for
If an economic expansion in the economy caused an increase in the demand for loanable funds, what would be the effect on the interest rate and the quantity of funds loaned in the credit market?
A. Interest rates would increase and the quantity of funds loaned would decrease B. Interest rates would decrease and the quantity of funds loaned would increase C. Interest rates and the quantity of funds loaned would decrease D. Interest rates and the quantity of funds loaned would increase