All of the following are macroeconomic injections into the circular flow except:
a. Consumption
b. National government spending
c. State and local government spending
d.All of the above.
e. None of the above.
.A
Economics
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The substitution effect of a decrease in the wage rate causes the quantity of labor supplied to
a. increase b. increase only if the individual desires more leisure time c. increase only if the substitution effect outweighs the income effect d. decrease e. decrease only if the individual lowers the value of leisure time
Economics
The marginal revenue curve for a monopolist is the same as its demand curve
a. True b. False Indicate whether the statement is true or false
Economics