Above the shutdown point, a competitive firm's supply curve coincides with its:

When President Obama took office in January 2009, he pledged to pursue an expansionary fiscal policy to try to pull the economy out of the recession

The next month, Congress passed the American Recovery and Reinvestment Act of 2009, a $840 billion package of ________ that was the largest fiscal policy action in U.S. history. A) interest rate reductions and increases in the money supply B) treasury bond purchases and mortgage-backed securities purchases C) commercial and investment bank bailouts D) spending increases and tax cuts

The income and substitution effects of a change in the wage rate

a. always work in the same direction b. always work in opposite directions c. work in opposite directions only if the change is a decrease d. work in the same direction only if the change is an increase e. work in the same direction only if the change is a decrease