If a union negotiates a wage greater than the competitive wage, the total union wage bill will necessarily decrease

Which of the following is most likely to cause the long-run aggregate supply curve to shift rightward?

a. A rise in energy prices b. A drop in the actual price level c. An increase in the demand for leisure hours d. An increase in the level of investment spending that is less than the depreciation of the capital stock e. A technological breakthrough with widespread practical applications

Transfer payments are included in

a. Gross Domestic Product b. Net Domestic Product c. National Income d. Personal Income e. Gross National Product