A rightward shift of the long-run aggregate supply curve is caused by
A) an increase in the minimum wage.
B) an increase in the average duration of unemployment.
C) improvements in technology and resource endowments.
D) an increase in the GDP deflator.
C
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Under what circumstances might it be more effective for people experiencing a negative externality to file a class-action lawsuit than attempt to resolve the problem through bargaining?
What will be an ideal response?
The unemployment that results from the process of matching workers and jobs is called frictional unemployment
a. True b. False Indicate whether the statement is true or false
What does the HO model predict will happen to the real returns to factors of production after trade occurs?
a. Labor and capital must be used together in production, and there is no room for competition for remuneration. b. Capital owners always get the "gains from trade." c. Resources used intensively in export industries (such as labor in China and capital in the United States) will see an increase in their returns, whereas the resources used intensively in importcompeting industries will see a decline in their return. d. Poor nations will always get the least returns to their factors of production.
Refer to the diagram, in which Q f is the full-employment output. The shift of the aggregate demand curve from AD 3 to AD 2 is consistent with:
A. an expansionary fiscal policy.
B. a major recession.
C. a contractionary fiscal policy.
D. demand-pull inflation.