A decrease in the price of a nonlabor input such as electricity will cause
A) a movement down the SRAS curve.
B) a movement up the SRAS curve.
C) a leftward shift in the SRAS curve.
D) a rightward shift in the SRAS curve.
E) no change regarding the SRAS curve.
D
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A case study of Japanese auto imports during the 1980s focuses on an agreement between Japan and the United States to undertake:
a. a coordinated effort to improve gas mileage. b. a study of wage concessions by Japanese carmakers in the United States. c. a review of unionization and employee benefits in both nations. d. a voluntary export restraint.
The two basic reasons why economists often appear to give conflicting advice to policymakers are differences in
a. opinions and education. b. opinions and values. c. scientific judgments and education. d. scientific judgments and values.