Suppose the equilibrium quantity of labor hired decreases and the equilibrium real wage rate increases. All else constant, this situation will also result in
A) more government outlay for the unemployed. B) higher output prices.
C) lower output prices. D) fewer benefits for those still unemployed.
B
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Use the following statements to answer this question: I. An increase in the firm's fixed costs will also shift the firm's short-run supply curve to the left. II
An increase in the firm's fixed costs will not shift the firm's short-run supply curve to the right or left, but it may alter how much of the marginal cost curve is used to form the short-run supply curve. A) I and II are true. B) I is true and II is false. C) II is true and I is false. D) I and II are false.
A command system uses a group of planners or central authority to make basic economic decisions
a. True b. False Indicate whether the statement is true or false