The individual labor supply curve is positively sloped in the short run.
Answer the following statement true (T) or false (F)
False
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Toothpicks are sold in a perfectly competitive market. The market price is currently $3 per box of one hundred toothpicks
At its current level of production, a representative firm in the toothpick industry is producing at a level of output such that long-run average cost is $3.25 per box of one hundred toothpicks. Given this information, is the toothpick industry in equilibrium? Explain.
Why might a producer practice price discrimination?
A) to maximize profits B) to maximize quantity demanded C) to make its products more affordable to those with low incomes D) to maximize economic efficiency
Suppose that the IS curve is stable and money demand is lower than forecasted
If the Fed is targeting the interest rate, it notices the rate is ________ its target, and action to correct this, shifting the LM curve to the ________, causes GDP to ________ natural GDP. A) below, right, fall back toward B) below, right, rise further from C) below, left, return to D) above, left, fall back from E) above, right, rise further from
How are TIPS adjusted for inflation?
A) The interest rate is adjusted for inflation during each period. B) The principal is adjusted once the bond reaches maturity. C) The principal is adjusted for inflation each period. D) The interest rate is adjusted once the bond reaches maturity.