If stricter immigration laws are imposed and many foreign workers in the United States are forced to go back to their home countries
A) we will move up along the long-run aggregate supply curve.
B) we will move down along the long-run aggregate supply curve.
C) the long-run aggregate supply curve will shift to the right.
D) the long-run aggregate supply curve will shift to the left.
D
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Refer to Figure 9-3. Without the quota, the domestic price of peanuts equals the world price which is $2.00 per pound. What is the quantity of peanuts supplied by domestic producers in the absence of a quota?
A) 10 million pounds B) 28 million pounds C) 30 million pounds D) 40 million pounds
If disposable income increases by $100 and saving increased by $25, ceteris paribus, we may conclude that
A) the marginal propensity to consume is 0.25. B) the marginal propensity to save is 0.25. C) $15 is autonomous consumption. D) a change in disposable income is induced by a change in consumption.
Peter was recently hired as a salesman for a national consulting firm. His job involves spending a significant portion of his time out of the office visiting prospects and attending conferences. His firm is paying him a wage that is higher than the equilibrium wage, but he receives much of his income in quarterly bonuses based on how much he sells
a. The consulting firm is trying to prevent adverse selection with its compensation strategy. b. Peter has an incentive to go golfing with his buddies rather than conducting sales meetings. c. The consulting firm is responding to the moral hazard problem with its compensation strategy. d. Peter should quit this job and take a job where he gets paid an equilibrium wage more frequently.
inflation caused by an increase in the per-unit production costs at each level of total spending
What will be an ideal response?