Increase in wages will shift supply curve up and to left

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Reference no: EM13836988

1. Unemployment occurs even during periods when the economy is growing.

A) True

B) False

2. GDP measures underestimate the value of output produced by an economy because they include services not transferred through markets.

A) True

B) False

3. An increase in wages will shift the supply curve up and to the left.

A) True

B) False

4. A decrease in population would shift the demand curve to the left.

A) True

B) False

5. An increase in demand will cause the equilibrium price and quantity to rise, ceteris paribus.

A) True

B) False

Reference no: EM13836988

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