Which of the following will most likely cause an increase (shift to the right) in both the long-run and short-run aggregate supply curves?
a. an increase in the national debt
b. an increase in income tax rates
c. a decrease in the economy's rate of investment and capital formation
d. a technological improvement in robotics that substantially increases labor productivity
D
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Which of the following is an example of collectivization costs?
A) Isabel knows that other neighbors' sleep patterns must also be affected by the howling dogs in her neighborhood and sets out to find those neighbors. B) Isabel is bound and determined to to find out which of her neighbors owns the howling dogs that are preventing her from getting a full night's slee
Which of the following statements about unanticipated inflation is true?
a. It reduces average purchasing power in the economy. b. It reduces total purchasing power in the economy. c. It redistributes purchasing power in the economy. d. It reduces nominal wages. e. Its effects are spread evenly throughout the economy so that no one gains or loses from inflation.