Jen's wage decreased, and she responded by enjoying more hours of leisure per day. Is Jen's behavior consistent with an upward-sloping labor-supply curve?
Yes. Jen responded to the lower wage by working fewer hours and enjoying more hours of leisure per day.
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Use the following graph to answer the next question.
Which line in the graph would best illustrate the supply of money curve?
A. Line 4 B. Line 3 C. Line 2 D. Line 1
A bank with some monopoly power may be able to __________ the rate on its deposits and so __________ its net interest income
A) lower, lower B) lower, raise C) raise, lower D) raise, raise
The positive slope of the per-worker production function illustrates the relationship between per-worker output and ________
A) diminishing marginal returns B) the capital-labor ratio C) the rate of inflation D) the rate of unemployment
The Fed relies primarily on the discount rate to control the money supply
a. True b. False Indicate whether the statement is true or false