The aggregate supply curve shifts rightward when
A) the money wage rate falls.
B) government purchases increase.
C) potential GDP decreases.
D) income taxes increase.
E) the money wage rate rises.
A
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A compulsory payment to government that is generally linked to engaging in some activity is referred to as a
A) tax. B) subsidy. C) deadweight loss. D) quota.
When obtaining information is costly, competition is
A) less effective at forcing prices down. B) more effective at forcing prices down. C) only effective at forcing prices u
Differences in productivity can actually benefit society even when this results in increases in income inequality
Indicate whether the statement is true or false
Matthew just graduated from culinary school. He can earn $40,000 a year working for the same local bakery he has worked at since before starting culinary school, or accept a job offer he received after graduation from a high-end restaurant paying $70,000 a year. The higher salary is a result of
a. a compensating differential. b. efficient union bargaining. c. having more human capital. d. pure luck.