If a society's unemployment rate rises from 5 percent to 8 percent, the result will be a leftward shift of the society's PPF.
Indicate wheher the statement is true or false.
Answer: False.
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MacDougall's test provides evidence that exports are positively related to labor productivity
Indicate whether the statement is true or false
Suppose a tax has been imposed in the graph shown. Which kind of tax is most likely demonstrated by this graph?
A. A tax on sellers
B. A tax on buyers
C. A tax on big corporations
D. A price ceiling
A decrease in the marginal revenue product of land will: a. decrease the supply of land
b. increase the rental earnings from land. c. increase the price of land. d. decrease the demand for land.
The desirable level of output in a perfectly competitive market if there exists a detrimental externality is
A. the point at which MSC curve intersects the marginal revenue curve. B. the point at which MSC intersects the MPC. C. the point at which MSC intersects the marginal private benefit curve. D. the point at which marginal revenue curve intersects the MPC.