The long-run aggregate supply curve is determined by all of the following EXCEPT
A. technology.
B. aggregate demand.
C. the amount of resources that exist in the economy.
D. human capital.
Answer: B
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Explain the factors that determine the incidence of the payroll tax. Illustrate your answer using graphs
In the United States, who bears most of the payroll tax employers or workers? Why? (Hint: draw two separate supply and demand curves for labor. Show one with a relatively elastic supply for labor and one with a relatively inelastic supply).
Because the value of non-cash benefits to the poor is not counted when calculating the official poverty rate in the U.S., the official statistics
A. underestimate the poverty rate. B. overstate the real income of the poor. C. accurately measure the poverty rate. D. overestimate the poverty rate.
For the fall semester, you had to pay a nonrefundable fee of $600 for your meal plan, which gives you up to 150 meals. If you eat all of the meals, your average cost for a meal is:
A. $4. B. $0.25. C. $5. D. $6.
If the real interest rate is 2 percent and inflation rate is 1 percent, what is the nominal interest rate?
A. 1 percent B. 0 percent C. 2 percent D. 3 percent