Both an increase in employment opportunities and an increase in immigration lead to a shift to the right in the supply curve for labor
Indicate whether the statement is true or false
T
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If aggregate expenditure in an economy equals 1,000 + 0.9Y and full employment real GDP equals 9,000, then this economy has
A. an inflationary gap. B. no output gap. C. a recessionary gap. D. no autonomous expenditure.
Your friend steals towels from hotels. She then tells you she steals because "many people steal, so hotels already figure the cost of the stolen towels into the hotel bill of all customers." From the economic point of view, your friend's logic i
A) correct, because what's fair is fair. B) correct, because economics champions such selfish behavior. C) impeccable. D) incorrect, because it suggests that cost determines price. E) incorrect, because it suggests that ethical positions can be derived from economic facts.
According to the table shown, what is the firm's marginal cost from producing the 2nd unit?
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.
A. $10.00
B. $7.50
C. $27.50
D. $20.00
Transfer payments
a. shape the structural deficit b. tend to fall in a recession c. automatically increase when positive spending shocks occur d. transfer jobs to the federal bureaucracy e. automatically decline when positive spending shocks occur