Which of the following factors is most likely to cause the aggregate demand curve to shift rightward?
a. An increase in savings
b. An increase in household wealth
c. An increase in tax rates
d. A decrease in government spending
b
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Kaitlyn and Larissa have formed a dog bathing and grooming business business. The number of dogs they can bathe or groom in any given day is depicted in Table 2.1. The opportunity cost of grooming the third dog in a day is bathing ________ dog(s)
A) 3 B) 4 C) 5 D) 18
Using the information in the table above, calculate the number of people in the labor force
A) 2500 B) 2100 C) 1500 D) 800
A business incurs the following costs per unit: Labor - $5/unit; Materials $3/unit and rent - $5000/month. If the firm produces 100 . units a month, the total costs equals
a. $5,000 b. $8,000 c. $13,000 d. $3,000
According to the principle of marginal productivity, if
A. the product price is less than MRP, the firm is using too little of the input. B. the price of an input rises, the quantity demanded of the input will increase. C. MRP is greater than product price, the firm should reduce the use of the input. D. price of the input equals MRP, the firm is maximizing profit.