Which of the following is most likely to increase long-run aggregate supply in an economy?
a. A decrease in the size of the labor force
b. A deterioration in the quality of the labor force
c. A reduction in the cost of using computers
d. An increase in the price level
e. An increase in aggregate demand
c
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Tools and equipments used in production are:
a. natural resources. b. entrepreneurial resources. c. human capital. d. capital resources. e. labor resources.
Which of the following would be included in the consumption component of total expenditure in the United States?
a. A citizen buying a new apartment in Colorado b. A citizen paying rent for an apartment in New York c. NASA buying a new satellite launch vehicle from another country d. The U.S. government selling submarines to another country
The behavior of the perfectly competitive firm
A. theoretically leads to an inefficient allocation of resources. B. maximizes the benefits to consumers, given the resources available to the economy. C. reduces output in order to raise prices in the short term. D. results in excess capacity and inefficiency.
For equilibrium in an open four sector economy:
a) Actual injections = actual withdrawals b) Planned injections = planned withdrawals c) Savings = investment d) Government spending = tax revenue