Holding other factors constant, if oil prices rise relative to the prices of other products, then the real wages of oil workers will ________ and employment of oil workers will ________.
A. increase; increase
B. decrease; not change
C. increase; decrease
D. decrease; increase
Answer: A
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Along a linear downward-sloping demand curve, the price elasticity of demand will be
A. equal to zero across each price range. B. greater than one across each price range. C. different across each price range. D. less than one across each price range.
A public good
A) is a good that is usually consumed in public, such as a restaurant meal. B) is a good people can consume even if they do not pay for it. C) is a good produced by government. D) results in an efficient allocation of resources. E) is a good for which people are willing to pay a very high price.
The extent of money expansion will be: a. greater if banks hold on to excess reserves
b. greater if private individuals hold on to cash. c. greater if banks hold on to excess reserves but less if private individuals hold on to cash. d. less if banks hold on to excess reserves but greater if private individuals hold on to cash. e. less if banks hold on to excess reserves or private individuals hold on to cash.
The linear regression equation, Y = a + bX, was estimated. The following computer printout was obtained: 
Given the above information, the parameter estimate of a indicates
A. when X is zero, Y is 5.09. B. when Y is zero, X is 8.03. C. when Y is zero, X is -21.36. D. when X is zero, Y is 15.48.