Which of the following will not result in a rightward shift of the market supply curve for labor?
a. an increase in immigration
b. an increase in labor productivity
c. an increase in the working-age population
d. a decrease in nonwage income
b
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Which of the following will not happen as a consequence of a monopolistically competitive firm suffering economic losses in the short run?
A) The firm will exit the industry if it continues to suffer economic losses. B) In the long run the firm will be able to charge a price that is greater than its average total cost. C) The firm's demand curve will shift to the right if it stays in business in the long run. D) The firm will break even if its stays in business in the long run.
Which of the following will cause an outward (rightward) shift in the supply curve?
A) a reduction in the price of the good B) an increase in the price of labor input C) an increase in the number of consumers D) technological progress
Consumers always ____ indifference curves that are farther from the origin
a. reject b. cross c. prefer d. maximize
Which of the following economic theories take into account the rational expectations of people in the economy?
a. Traditional Keynesian economic theory b. Monetarist economic theory c. New classical economic theory d. Classical economic theory e. New Keynesian economic theory