If a job applicant had been willing to work for $10 an hour, but the employer pays her $18 an hour, the worker earns wage-related rent of $8 an hour
Indicate whether the statement is true or false
T
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The quantity of reserves supplied equals
A) nonborrowed reserves minus borrowed reserves. B) nonborrowed reserves plus borrowed reserves. C) required reserves plus borrowed reserves. D) total reserves minus required reserves.
Which of the following is a reason for economies of scale?
A) Fixed costs are spread out as volume increases. B) The law of diminishing returns does not take effect. C) Input productivity increases as a result of greater specialization. D) There is greater savings in transportation costs.
Dennis is an excellent typist. However, because he has been unable to adapt to his company's new computer system, he has lost his job. He is currently seeking another secretarial position, but it is likely that he will have to acquire new skills to become employable as a secretary again. Dennis would best be described as
a. frictionally unemployed b. seasonally unemployed c. structurally unemployed d. cyclically unemployed e. not in the labor force
Answer the following statements true (T) or false (F)
1) If households and firms in an economy would save all extra income that they receive so that MPC = 0, then the multiplier in that economy is zero. 2) The steeper is the consumption schedule in an economy, the larger will be the multiplier. 3) Positive net exports increase aggregate expenditures beyond what they would be in a closed economy and thus have an expansionary effect on domestic GDP. 4) An increase in imports, other things constant, would tend to raise the equilibrium level of GDP.