The effect of higher wages on the individual supply of labor is ________ and the effect of higher wages on the market supply of labor is ________.
A. ambiguous; to increase the quantity supplied
B. to increase the quantity supplied; ambiguous
C. ambiguous; to decrease the quantity supplied
D. to decrease the quantity supplied; ambiguous
Answer: A
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?Which of the following is true of the "Introduction" section while writing a paper?
A. ?It describes the general approach to answering the questions that have posed. B. ?It contains a few equations that one estimate and presents in the results section of the paper. C. ?It describes the data used in the empirical analysis. D. ?It states the basic objectives of the study and explains its importance.
Whenever a society forgoes current consumption to invest in capital goods,
A) the less the society can consume next year. B) the easier it will be for the society to consume less in the future because people will become accustomed to less. C) the more the society can consume in the future. D) the less capital the society can produce in the future.
Other things equal, an improvement in productivity will:
A. increase the equilibrium price level. B. shift the aggregate supply curve to the left. C. shift the aggregate supply curve to the right. D. shift the aggregate demand curve to the left.
An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease