Which of the following will cause a leftward shift in the aggregate demand curve?
A) a reduction in the money supply
B) an increase in taxes
C) a reduction in government spending
D) all of the above
D) all of the above
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What happens when the supply of a nonperishable good is greater than what consumers want to buy?
a. the good is discarded b. the good becomes a luxury and the price rises c. either the good is saved for later sale or the price is raised d. either the good remains unsold or the price drops
Which of the following statements is correct? a. If unions successfully bargain for higher wages for their union members, employment among union members will increase. b. Wages are higher in nonunion jobs than in union jobs of comparable skill
c. The efficiency wage model asserts that higher wages will lead to higher productivity. d. The imposition of a minimum wage above the market price for unskilled labor creates a shortage of labor.