An increase in the wage rate of steel workers will reduce the supply of steel.
Answer the following statement true (T) or false (F)
True
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Which of the following responsibilities did the Constitution not give to the federal government?
a. The right to set laws on patents b. The sole right to mint coins c. The right to establish post offices d. The right to tax. e. All of the above
The simple circular flow model shows that workers and owners of land and capital offer their services through: a. product markets. b. factor markets
c. money markets d. government.
Supply-side economists encourage government to reduce taxes, deregulate, and increase spending on research and development because they think that these types of policies lead to greater long-run economic growth
a. True b. False Indicate whether the statement is true or false
Goods and services that are consumed by the ultimate user are called ________ goods and services.
A. nominal B. value added C. final D. intermediate