The short-run aggregate supply curve will shift to the left if:
a. there is a significant increase in worker productivity.
b. workers on fixed-wage contracts expect higher inflation.
c. the price of raw materials decreases.
d. the price of capital goods rises.
e. wages fall in anticipation of higher prices.
d
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Which of the following describes the behavior of politicians implementing fiscal policy?
A. They spend in bad times because they can, and they spend in good times because they have to. B. They spend in bad times because they have to, and they spend in good times because they can. C. They save in bad times because they have to, and they save in good times because they can. D. They save in bad times because they can, and they save in good times because they have to.
The above table shows marginal costs and marginal benefits of clean air in a particular industrial area. In the table, when the quantity of clean air is at 75 percent
A) the quantity of polluted air is 75 percent. B) the marginal benefit of clean air exceeds the marginal cost. C) the marginal benefit of clean air is less than the marginal cost. D) the quantity of clean air is optimal.