Refer the above figure. An increase in labor productivity is likely to stimulate and shift the labor demand curve to
A) the right and hence increase union wages per year.
B) to the left and hence increase union wages per year.
C) the right and hence lower union wages per year.
D) None of the above is likely to happen.
A
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A time series graph can show both the level of a variable and the speed with which the variable changes over time
Indicate whether the statement is true or false
Explain for each event whether it changes short-run aggregate supply, long-run aggregate supply, aggregate demand, or some combination of them
What will be an ideal response?
When a paper producer pollutes the air, economists argue that there is
A) efficiency, if production is at its maximum level. B) a positive externality. C) an external cost. D) a cost paid solely by the firm.
When examining the growth record of any nation
A. no consideration should be given to the change in the average amount of leisure time in the nation. B. we must consider which income groups have benefited most from the growth. C. all that must be examined is increases in per capital real GDP. D. increases in per capita real GDP must be considered along with how far the production possibilities curve has shifted.