By adjusting its spending level, the government can try to achieve target employment and GDP levels through
a. countercyclical monetary policy
b. buying bonds on the open market
c. shifting the Phillips curve
d. wage and price controls
e. countercyclical fiscal policy
E
Economics
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In a competitive labor market, with one variable factor, the supply of labor to the firm is
A) equal to the marginal expenditure curve. B) equal to the demand curve for labor. C) greater than the marginal expenditure curve. D) equal to the marginal revenue product curve.
Economics
If the slope of the rays from the origin to the total variable cost curve declines along the curve, it implies:
a. the average variable cost is falling. b. the marginal cost is falling. c. the average variable cost is rising. d. the marginal cost is rising.
Economics