Suppose There Is an Increase in Expected Future Output

question 23

Multiple Choice

Suppose there is an increase in expected future output. This will cause which of the following to occur?

• A) The IS curve to shift left in the current period.
• B) The IS curve to shift right in the current period.
• C) The LM curve to shift up in the current period.
• D) The LM curve to shift down in the current period.
• E) Both the IS and LM curves to shift right in the current period.

Recognize the role of intention and foreseeability in tort actions.

Understand the specific terminology used in tort law, including strict liability, contributory and comparative negligence.

Comprehend the legal consequences of defamation, including special rules for public figures.

Analyze the legal implications of assumption of risk and consent in tort law.

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Definitions:

Hourly Wage Rate

The amount of money paid for each hour of work, commonly used to compensate employees in many occupations.

Marginal Utility

The augmented enjoyment or usefulness that comes from the consumption of an additional unit of a product or service.

Optimal Labor Supply

The amount of labor hours that maximizes an individual's or firm's net benefits or utility.

Worth of Goods

The total value or market price of all goods considered or evaluated.