26. Aggregate supply is composed of which of the following? Report an error Consumer, public, capital, and traded goods Technology, capital stock, and productivity measures Consumer price index Household goods 27. How will the supply curve for labor be affected if people decide that they value vacation time more highly and consequently decide to work fewer hours at each wage point? Report as Error It will shift downward. It will shift upward. It will shift outward to the right. It will shift inward to the left. 28. Which best defines aggregate supply in the short-run? eport an error The total goods supplied at one price point with no resource limitations The total production of goods and services at different price levels when at least one production resource is fixed. The total production of goods and services at different price levels. The total production of goods and services. The total production of goods and services. The total production of goods and services at different price levels. 29. Why is the income tax relevant to the federal government? Repe It finances some special government programs. It is the largest tax collected by the federal government It is the smallest tax collected by the federal government, but it funds infrastructural programs. It is used to finance health care and is the second largest tax collected by the federal government. 30. If an employee receives a $500 bonus, spends $200 on a new couch, and places the other $300 in savings, then which number represents their marginal propensity to consume? O 0.4 Report 0.2 0.3