Indicate whether each of the following situations would shift the supply curve to the left, to the right, or not at all
a. An increase in the price of an input
b. An increase in productivity
c. An increase in the price of a substitute in production
d. A decrease in the expected future price of a product
e. A decrease in the current price of the product
a. Shift to the left
b. Shift to the right
c. Shift to the left
d. Shift to the right
e. No shift
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The figure above shows a labor market. If there is a monopsony in this labor market, then increasing the minimum wage from $3 per hour to $5 per hour
A) will increase the quantity of labor employed. B) will leave unchanged the quantity of labor employed. C) will decrease the quantity of labor employed. D) could increase, decrease, or leave unchanged the quantity of labor employed.
Seigniorage refers to
A) real resources a government earns when it prints money to use for spending on goods and services. B) nominal resources a government earns when it prints money to use for spending on goods and services. C) real resources a government earns when it prints money. D) nominal resources a government earns when it prints money. E) real resources a government earns when it issues bonds to use for spending on goods and services.
Which factor listed below does NOT help account for the age-earning cycle?
A) productivity B) number of hours worked each week C) effects of aging D) racial discrimination
Which of the following characterizes the IACs?
a. High per capita GDP growth and high population growth. b. Low per capita GDP growth and low population growth. c. Low per capital GDP growth and high savings rate. d. Low human capital investment.