The economy's money supply curve is vertical
a. True
b. False
A
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At the competitive equilibrium with a positive proportional labor income tax
A) the real wage after tax exceeds the marginal product of labor. B) the real wage after tax equals the marginal product of labor. C) the real wage after tax is lower than the marginal product of labor. D) We cannot say.
Unemployment caused by a contraction in the economy is called: a. frictional unemployment. b. cyclical unemployment
c. structural unemployment. d. seasonal unemployment.
Which muscles are located between the ribs?
A. Intercostals B. Internal obliques C. Latissimus dorsi D. Pectoralis
The difference between the equation of exchange and the quantity theory of money is that the
A. equation of exchange assumes that the level of real GDP is constant. B. quantity theory of money assumes that the Fed has no control over the money supply. C. equation of exchange assumes that the level of nominal GDP is constant. D. quantity theory of money assumes that velocity is virtually constant.