The MRP of labor will shift to the right if
A. wages decrease.
B. labor productivity increases.
C. labor productivity decreases.
D. wages increase.
Answer: B
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The marginal utility of a unit of good Y to Jane is
a. the additional utility that Jane gets from consuming one more unit of Y. b. defined in money terms as the minimum amount Jane is willing to pay for that additional unit of Y. c. defined in money terms as the maximum amount Jane is willing to pay for all the Y she buys except that additional unit. d. All of the above are correct.
If the Fed decreases the discount rate, what happens to reserves and the money supply?
a. Reserves increase and the money supply decreases. b. Both increase. c. Reserves decrease and the money supply increases. d. Both decrease.
Why is a depreciation or devaluation of the nation's currency unable to eliminate a trade balance deficit when the country's demand for imports and the foreign demand for the country's exports are both highly inelastic?
What will be an ideal response?
Figure 3.6 illustrates a set of supply and demand curves for hamburgers. An increase in supply and an increase in demand are represented by a movement from:
A. point d to point b. B. point d to point a. C. point c to point a. D. point b to point c.