A change in the supply of labor will shift the long-run aggregate supply curve.
a. true
b. false
Ans: a. true
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Which of the following is closest to the future value of a $40,000 deposit earning 3 percent interest annually after 5 years?
A. $41,282 B. $46,021 C. $46,371 D. $41,150
The short-run Phillips curve shows that: a. the economy can have low inflation and low unemployment simultaneously
b. the economy can have high per-capita income and high interest rate simultaneously. c. a reduction in per-capita income comes at the expense of lower inflation. d. a reduction in unemployment comes at the expense of higher inflation. e. a reduction in inflation comes at the expense of lower exchange rate.
When a government subsidy is granted to the buyers of a product, sellers can end up capturing some of the benefit because
a. the market price of the product will fall in response to the subsidy. b. the market price of the product will rise in response to the subsidy. c. the market price of the product will not change in response to the subsidy. d. buyers will reduce their demand for the product.
the schedule or curve showing the relationship between the price level index and the amount output produced in the economy
What will be an ideal response?