The Phillips curve shifts because
A) fiscal policy changes over time.
B) of total factor productivity shocks.
C) of economic development.
D) none of the above.
D
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The Coffee Nook, a small cafe near campus, sells cappuccinos for $2.50 and Russian tea cakes for $1.00 each. What is the opportunity cost of buying a Russian tea cake?
A) $2.50 B) $1.00 C) 2 1/2 cappuccinos D) 2/5 of a cappuccino
Having a government agency certify bond rating agencies may not be desirable
Indicate whether the statement is true or false
Which of the following will discourage investment
What will be an ideal response?
If the price of the product produced by labor decreases, the marginal revenue product of labor curve will
A. become more inelastic. B. shift to the left. C. shift to the right. D. be unaffected because productivity of labor has not changed.