If the expansionary effect of additional government expenditure ________ the contractionary effect of the fall in private investment, the labor demand curve ________
A) equals; will remain at its initial position B) exceeds; will shift to the left
C) equals; will shift to the right D) exceeds; will remain unchanged
A
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"I know that my vote alone will not influence whether or not any new foreign trade legislation is enacted, so I have decided not to spend the time learning about various legislative proposals." This quote reflects an example of
A) the free-rider problem. B) government failure. C) rational ignorance. D) voter inefficiency.
American farmers who sell beef to Europe benefit most from
A) a decrease in the dollar price of euros. B) an increase in the dollar price of euros. C) a constant dollar price for euros. D) a European ban on imports of American beef.
In the long run, the price level in an economy is determined solely by: a. the long-run aggregate supply curve
b. the aggregate demand curve. c. the amount of cyclical unemployment in the economy. d. the short-run aggregate supply curve. e. the potential output level.
The predominant condition that encourages governments to place price floors on markets is
a. the need for consumers to buy products at reasonable prices b. a war situation in which excess demands occur resulting in price increases c. a substantial increase in income, which shifts the demand curve to the left d. a series of substantial crop failures that shift the supply curve of food to the left e. technological changes that shift the supply curve to the right