An increase in the size of the working-age population
A. decreases labor supply.
B. decreases labor demand.
C. increases labor supply.
D. increases labor demand.
Answer: C
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The time consistency problem implies that
A) the central bank should not commit. B) central bank commitment is useful. C) discretion is better than tying your hands. D) there are problems we cannot solve.
Supply-siders believe that high tax rates are a disincentive to labor supply
a. True b. False Indicate whether the statement is true or false
Moral hazard occurs when
a. an employer closely monitors an employee. b. two people consider a trade with each other and one person has relevant information about some aspect of the product's quality that the other person lacks. c. an employee lacks an incentive to promote the best interests of the employer, and the employer cannot observe the actions of the employee. d. an employee closely monitors the actions of her employer.
The higher the U.S. dollar price per Mexican peso, the __________ Mexican goods are for Americans and the __________ Mexican goods Americans will buy; thus __________ pesos will be demanded
A) more expensive; fewer, more B) less expensive; more, fewer C) more expensive; fewer, fewer D) less expensive; fewer, more E) none of the above