Refer to Figure 7.2. If Happy Times Theater charges one price to all customers, then that price will be
A. $10.00.
B. $7.50.
C. $6.25.
D. Not enough information available.
Answer: B
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An increase in the level of real GDP in the economy leads to
A) a leftward shift in the demand for money curve. B) a rightward shift in the demand for money curve. C) a leftward movement along the demand for money curve. D) a rightward movement along the demand for money curve.
China has used a fixed yuan exchange rate and a crawling peg exchange rate. In both cases, China pegs its currency to the
A) U.S. dollar. B) Japanese yen. C) euro. D) Mexican peso.
In the classical model,
A) unemployment will never exist since workers will be willing to accept lower wages and will then be able to find work. B) unemployment will never exist because employers will be willing to pay the wage rate demanded by the workers. C) wages will go up but never go down. D) full employment will never be reached.
Which of the following was not a reason why wages in the US increased during World War I?
a. A sharp decrease in immigration during the war. b. A large increase in drafting men into the armed forces. c. A large increase in the number of government contracts. d. A large increase in the number of women who were employed in the labor market.