The government transfer program makes the distribution of income more equal.
Answer the following statement true (T) or false (F)
True
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
A rise in the exchange rate leads to a decrease in the quantity of dollars demanded
Indicate whether the statement is true or false
The marginal product of labor
A) is measured by the slope of the production function relating capital to employment. B) is larger when the labor supply is relatively larger. C) is smaller when the labor supply is relatively smaller. D) decreases as the number of workers already employed increases.
When there are economies of scale,
a. per-unit costs increase as output increases b. per-unit costs decrease as output increases c. per-unit costs are constant as output increases d. output does not affect per-unit costs