Everything else equal, wages are likely to be higher when
a. the location of the job is more desirable.
b. the work environment is more prestigious.
c. more skill is required to perform well on the job.
d. the work is safer.
C
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Which of the following is one of the main goals of monetary policy?
A. Transferring wealth from lenders to borrowers B. Rescuing bankrupt private businesses C. Smoothing out the business cycle D. Producing deflation
Becoming better at a task the more often you perform is referred to as:
A. economies of performance. B. learning by doing. C. inherent advantage. D. economies of scope.
Refer to Figure 28-9. A(n) ________ would be depicted as a movement from A to D to C
A) supply shock, such as rising oil prices, B) implementation of contractionary monetary policy C) increase in short-run aggregate supply D) increase in aggregate demand
When the Gizmo Company could sell a gizmo for $10, it produced 2,500 per month. More recently, the price of a gizmo has fallen to $9 and so Gizmo is only producing 2,000 units per month. What is the price elasticity of supply for gizmos?
A) 0.47 B) -0.47 C) -2.11 D) 2.11