The short-run aggregate supply curve shifts leftward when the
A) price level increases.
B) general level of technology advances.
C) money wage rate increases.
D) availability of on-the-job training expands to all workers.
C
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There are 6 firms in a market and the market shares of the firms are 40 percent, 30 percent, 10 percent, 8 percent, 7 percent, and 5 percent. The four-firm concentration ratio is equal to
A) 2738. B) 2664. C) 100. D) 88.
Adam Smith noted that when public expenditures are undertake for the general benefit of everyone in a society then _____
a. there is considerable conflict between the benefit principle and the ability-to-pay principle b. there is no conflict between the benefit principle and the ability-to-pay principle c. the benefit principle provides little guide to tax policy d. the ability-to-pay principle provides little guide to tax policy