If stricter immigration laws are imposed and many foreign workers in the United States are forced to go back to their home countries,
A) we will move down along the long-run aggregate supply curve.
B) we will move up along the long-run aggregate supply curve.
C) the long-run aggregate supply curve will shift to the right.
D) the long-run aggregate supply curve will shift to the left.
D
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Suppose you are thinking about spending an additional hour studying for your next microeconomics exam. You should spend that extra hour studying as long as
A. the extra study time leads to a higher grade on the exam. B. your only other alternative is spending an hour reading a novel. C. the benefit of an additional hour of study is greater than what you have to give up in order to study one more hour. D. you enjoy studying microeconomics.
The combined efforts of the Fed and the Treasury in response to the financial crisis following the housing market crash caused:
A. aggregate supply to shift left, but still far below its pre-crisis level. B. aggregate demand to shift right to its pre-crisis level. C. the opposite reaction, and aggregate supply shifted farther to the left. D. aggregate supply to shift right to its pre-crisis level.