Which of the following will not lead to a leftward shift in the SRAS curve?
A) an increase in wage rates
B) an increase in the prices of nonlabor inputs
C) an increase in productivity
D) an adverse supply shock
C
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English mercantilism recognized the law of comparative advantage, thus permitting individuals to specialize in producing those goods and services which they could produce at relatively low opportunity costs and trading those items for those which
they could not. Indicate whether the statement is true or false
The above table shows marginal costs and marginal benefits of clean air in a particular industrial area. In the table, when the quantity of clean air is at 75 percent
A) the quantity of polluted air is 75 percent. B) the marginal benefit of clean air exceeds the marginal cost. C) the marginal benefit of clean air is less than the marginal cost. D) the quantity of clean air is optimal.