Which of the following definitely means productivity has increased?
A. Less output from fewer workers.
B. Less output from more workers.
C. More output from more workers.
D. More output from fewer workers.
Answer: D
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If a union negotiates a wage above the market equilibrium, each firm's
a. supply of labor is greater than its marginal resource cost b. supply of labor is less than its marginal resource cost c. supply of labor is equal to its marginal resource cost d. demand for labor is less than its marginal resource cost e. demand for labor is greater than its marginal resource cost
How did an increase in consumer confidence change the final equilibrium point of the expansionary policy as shown in this graph?
a. Instead of reaching the target of E3 and at RGDP3, the final result is E4 at RGDPNR.
b. Instead of reaching the target of E2 and at RGDPNR, the final result is E4 at RGDPNR.
c. Instead of reaching the target of E2 and at RGDPNR, the final result is E3 at RGDP3.
d. Instead of reaching the target of E3 and at RGDP3, the final result is E1 at RGDP1.
The farther an indifference curve is from the origin, the more total utility it yields.
Answer the following statement true (T) or false (F)
The aggregate demand increases, if
A) the government increases spending. B) the Fed sells government bonds. C) the government increases taxes. D) the Fed raises the discount rate.