The MFC curve
A) lies below the labor supply curve, when the labor supply curve is upward sloping.
B) lies above the labor supply curve, when the labor supply curve is upward sloping.
C) is the labor supply curve.
D) is parallel to the labor supply curve, when the labor supply curve is downward sloping.
B
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Which of the following is likely to cause a decrease in labor productivity?
a. An increase in student achievement scores b. A service sector that is growing slower than the growth rate of GDP c. An increased spending on research and development d. A decrease in capital formation e. A low federal budget deficit
If aggregate demand and aggregate supply both shift right, we can be sure that the price level is higher in the short run
a. True b. False Indicate whether the statement is true or false