An increase in the education level inside a nation would cause the:
A. aggregate demand curve to shift to the right.
B. long-run aggregate supply curve to shift to the right.
C. long-run aggregate supply curve to shift to the left.
D. short-run aggregate supply curve to shift to the left.
Answer: B
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The question "Is the U.S tax system disproportionate enough?" is a ________ question, and the question "How would higher taxes make the rich behave?" is a ________ question
A) normative; normative B) normative; positive C) positive; normative D) positive; positive
Net worth can perform a similar role to
A) diversification. B) collateral. C) intermediation. D) economies of scale.
When a firm ignores the opportunity cost of capital when making investment or shutdown decisions, this is a case of
a. Fixed-cost fallacy b. Sunk-cost fallacy c. Hidden-cost fallacy d. None of the above
Which would not cause the supply curve to shift?
A) a change in technology B) a change in factor costs C) a change in the price of the good D) a change in the prices of related goods