On the diagram to the right, a movement from A to B ( upward movement on the supply curve) represents a
A. movement down the supply curve
B. Change in supply
C. decrease in supply
D. change in quantity supplied
Ans: D. change in quantity supplied
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Which of the following is the best statement about how the amount of the net public debt that a typical individual owes to the holders of the debt has varied in the recent past?
A) The amount has not varied much over time. B) The amount has varied a lot over time. C) The amount has steadily increased over time. D) The amount has steadily decreased over time.
The efficiency wage theory argues that the productivity of workers increases: a. when they are paid more
b. when they are provided on-the-job training. c. with age and experience. d. when they are allowed to participate in internal decision making.
Assume the government decides to reduce spending in order to reduce the budget deficit, which it financed by borrowing in the real credit market. What is the first round effect on the value of the domestic currency, if there is low mobility in the international capital markets?
a. The value of the currency rises. b. The value of the currency falls. c. The value of the currency is unaffected. d. The change in the value of the currency is ambiguous.
Suppose a poverty program provides a basic benefit of $6,000, zero deductions, and a marginal tax rate of 0.6. The breakeven level of income is
A. $10,000. B. $3,600. C. $2,400. D. $6,000.