A decrease in the price of a nonlabor input such as machinery
A) shifts the SRAS curve to the right.
B) shifts the SRAS curve to the left.
C) causes an upward movement along the existing SRAS curve.
D) causes a downward movement along the existing SRAS curve.
E) none of the above
A
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Two goods that are complementary are
a. wrapping paper and scotch tape b. letter and fax c. beef and chicken d. bicycle and motorcycle e. Coke and Pepsi
If the government imposes a $3 tax in a market, the buyers and sellers will share an equal burden of the tax
a. True b. False Indicate whether the statement is true or false
The imposition of an effective minimum wage in a non-competitive industry might result in
A. more workers being hired. B. workers earning a lower wage. C. an increase in labor demand. D. a decrease in labor supply. E. higher firm profits.
Foreign direct investment leads to demand for a country’s currency.
Answer the following statement true (T) or false (F)