If there is an increase in technology, the long-run aggregate supply curve shifts rightward, but the short-run aggregate supply curve does not shift
Indicate whether the statement is true or false
FALSE
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Refer to the table below. To increase output from 33 to 66 units requires ________ extra employee-hour(s); to increase output from 66 to 99 units requires ________ extra employee-hour(s).OutputPer DayNumber ofEmployeeHours Per Day00331662994132716511
A. 2; 4 B. 1; 1 C. 2; 1 D. 1; 2
Which view of the causes of the Great Depression emphasizes that there is little evidence that the economy was suffering from any real shortage of money; the problems, instead, stemmed from a fall of private consumption and investment spending?
(a) The Monetarists' (b) The Keynesians' (c) The Austrians' (d) The International View
The real wage will rise if the nominal wage:
A. falls more rapidly than the general price level. B. increases at the same rate as labor productivity. C. increases more rapidly than the general price level. D. falls at the same rate as the general price level.
If a monopolist wants to increase the amount it sells, it
A. must lower the cost of production. B. must accept lower profits. C. will keep the price the same. D. must lower the price on all units.