Purchases of goods and services are included in GDP, but transfer payments are not included
Indicate whether the statement is true or false
TRUE
Economics
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If producers believe that the increase in their relative prices is large relative to the increase in the general price level, then the slope of the short-run aggregate supply curve will be
A) infinite. B) small. C) large. D) negative.
Economics
When the marginal productivity of labor decreases, the demand curve for labor in a perfectly competitive market
A) does not change. B) becomes steeper. C) shifts to the right. D) shifts to the left.
Economics