Which of the following statements is NOT true?
A) Unemployment in the US economy represents an excess demand for labor.
B) A surplus may be reduced by shifting the demand curve rightward.
C) A surplus may be reduced by shifting both the supply and demand curves.
D) A shortage may be reduced by shifting the supply rightward.
A
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Increasing the capital available to the workforce, holding other factors constant, tends to ________ total output while ________ labor productivity.
A. decrease; increasing B. increase; decreasing C. increase; not changing D. increase; increasing
________ shifts the consumption function upward
A) A decrease in the marginal propensity to consume B) An increase in the price level C) An increase in the real interest rate D) An increase in expected future disposable income E) An increase in disposable income
A Lorenz curve that represents an unequal income distribution is
A. a vertical line. B. a straight line starting at 100% C. a straight line starting at the origin. D. a bowed curved.
A "common" logarithm is the logarithm of the
A. power of two. B. base "e." C. base 10. D. base 2.