Refer to Table 15.1. The primary budget deficit for Arugula in 2012 is

Suppose the output of a firm hiring workers in a competitive labor market increases by three units when an additional worker is hired. This firm will hire more laborers if the market price of its product is $4 and the wage rate is $9 . [Hint: Marginal revenue product of a resource is equal to the product of marginal product of the resource and the marginal revenue of the firm.]

a. True b. False Indicate whether the statement is true or false

If the fiscal policy makers aim to increase aggregate demand, they will likely enact:

A. expansionary fiscal policy. B. contractionary fiscal policy. C. expansionary monetary policy. D. contractionary monetary policy.