An increase in wages in the public sector is always accompanied by an increase in labor productivity
a. True
b. False
Indicate whether the statement is true or false
False
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If the government wanted to reduce interest rates without changing output, it should
a. increase consumption and reduce the money supply. b. increase the money supply and raise government spending. c. increase the money supply and raise taxes. d. both b and c.
Imposing fines on companies that contribute heavily to air and water pollution is an attempt to bring marginal private costs in line with marginal social costs
a. True b. False Indicate whether the statement is true or false
Suppose that the labor market for high school chemistry teachers is initially in equilibrium. Chemistry teachers use laboratory chemicals as an important part of their jobs. New environmental regulations ban the use of many chemicals, which means that fewer laboratory chemicals are available for high school chemistry teachers to use in their jobs. What happens to the equilibrium wage and quantity
of high school chemistry teachers? a. Both the equilibrium wage and quantity increase. b. Both the equilibrium wage and quantity decrease. c. The equilibrium wage increases, and the equilibrium quantity decreases. d. The equilibrium wage decreases, and the equilibrium quantity increases.
Suppose the budget constraint is given by 200P + 50S = 400, where P is pizza and S is spinach. If the prices of S and P increase by 10% each then the budget curve will shift to the
A. left with the same slope. B. left but the slope will be different than before. C. right but the slope will be different than before. D. right with the same slope.