An improvement in technology that increases the marginal product will shift the demand for labor ...

An improvement in technology that increases the marginal product will shift the demand for labor curve to the left.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 2

One disadvantage of discretionary fiscal policy is that it can return the economy to its potential level of output, but at the cost of increasing the price level.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 3

_____ is measured in terms of current-year prices.
 a. Nominal gross domestic product (GDP)
  b. GDP price index
 c. Real gross domestic product (GDP)
 d. Arbitrage
 e. Depreciation

QUESTION 4

An increase in the demand for a product will shift the demand curve for labor producing the product to the right.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 5

Expansionary and contractionary gaps are automatically eliminated by shifts in aggregate demand.
 a. True
  b. False
  Indicate whether the statement is true or false

QUESTION 6

If the real gross domestic product (GDP) for the base year is 3 trillion, then the nominal gross domestic product (GDP) for that year is _____.
 a. .03 trillion
  b. 0.3 trillion
 c. 3 trillion
 d. 30 trillion
 e. 300 trillion

QUESTION 7

An improvement in technology that increases the marginal product will shift the demand for labor curve to the right.
 a. True
  b. False
  Indicate whether the statement is true or false