A vertical aggregate supply curve increases the size of the multiplier effect
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
If resources and goods are free to move across states and if Oregon producers choose to specialize in producing honey while California producers choose to specialize in growing almonds, then we could reasonable conclude that:
a. California has a comparative advantage in producing almonds b. Oregon has a comparative advantage in producing honey. c. the opportunity cost of growing almonds is lower in California than in Oregon. d. all of the above are true.
The business-stealing externality states that entry of a new firms imposes a cost on existing firms because they lose customers
a. True b. False Indicate whether the statement is true or false
The accompanying figure shows the production possibilities curve for the island of Genovia:
If 500 cars are produced in Genovia, a maximum of ________ tons of agricultural products can be produced.
A. 45,000 B. 50,000 C. 25,000 D. 40,000
A portion of a worker's earnings is rent if
A) the worker was the last person hired at the going wage rate. B) the supply curve of labor is horizontal. C) the worker would accept a small wage cut without quitting or working for someone else. D) the worker has industry-specific skills.