An unexpected decrease in aggregate demand will cause
A) a movement up the short-run Phillips curve.
B) a movement down the short-run Phillips curve.
C) an upward shift in the short-run Phillips curve.
D) a downward shift in the short-run Phillips curve.
B
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A landlord will supply her land for rental only if in equilibrium
a. she receives economic rent on the land. b. she is paid at least the opportunity cost of using the land herself. c. her land is marginal. d. her rate of return on her investment in the land is zero.
If California decides to pay for public radio by taxing people based on the number of hours they listen based on voluntary self-reporting, then which of the following is likely to occur as a consequence?
a. Many individuals will overstate the number of hours they listen to public radio to government in order to receive a higher tax bill. b. People who report listening quite a few hours and have a high income will pay a larger proportion of their income in public radio tax than people who report the same number of hours and have a low income. c. Many individuals will understate the number of hours they listen to public radio to government in order to reduce their tax bill. d. Many individuals will overstate the number of hours they listen to public radio to government in order to receive a lower tax bill.