What of the following would most likely cause the movement from S 1 to S 2 ?
a. A country reduces its armed forces, releasing many people into the work force.
b. Rapidly spiraling medical costs force many seniors to return to work after they retire.
c. A small town collectively wins a mega-million lottery, and its citizens divide the prize
money.
d. People move into a state from a neighboring state that has high taxes and corrupt
officials.
c. A small town collectively wins a mega-million lottery, and its citizens divide the prize
money.
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When gold production was low in the 1870s and 1880s, the money supply grew ________ causing ________
A) rapidly; inflation B) rapidly; disinflation C) slowly; deflation D) slowly; disinflation
An increase in the demand for workers producing computers for export versus producing agricultural products that can be imported more cheaply from abroad is an example of how increasing wage inequality can result from:
A. increasing reservation prices. B. the diminishing marginal product of labor. C. globalization. D. the diminishing marginal product of capital.