Any change that increases the quantity of labor supplied at all wage rates will ________, assuming all else equal
A) shift the labor supply curve to the left
B) cause an upward movement along the labor supply curve
C) shift the labor supply curve to the right
D) cause a downward movement along the labor supply curve
C
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The fact that indifference curves are downward sloping
A) is not true. B) follows from the fact that more is preferred to less. C) follows from the property that the consumer likes diversity in his or her consumption bundle. D) follows from the property that consumption and leisure are normal goods.
Compared with the recovery from the recession of 1981-82, the recovery from the recession of 2008-09 was characterized by
a. more rapid growth of real GDP. b. a more rapid decline in the rate of unemployment. c. larger increases in both government spending and budget deficits as a share of GDP. d. higher interest rates and a more restrictive monetary policy.