The market supply curve for labor is upsloping because:
A. of diminishing returns.
B. employers as a group must pay higher wage rates to obtain more workers.
C. of declining MRC.
D. each employer is a "wage taker."
Answer: B
Economics
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The right to openly support and to elect leaders in a democratic way is known as
A) political freedom. B) economic freedom. C) constitutional freedom. D) external freedom.
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A Keynesian economist would expect a supply-side tax cut to shift
a. only the aggregate supply curve outward. b. only the aggregate demand curve outward. c. both the aggregate demand and aggregate supply curves outward. d. the aggregate supply curve outward and the aggregate demand curve inward.
Economics