A perfectly competitive firm faces a demand curve that is:
a. horizontal and perfectly inelastic.
b. horizontal and perfectly elastic.
c. vertical and perfectly inelastic
d. vertical and perfectly elastic.
b
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Other things equal, a country's long-run aggregate supply will shift to the left when _____
a. the aggregate expenditure on education rises b. the productivity of labor rises c. the quantity of natural resources rises d. the mortality rate rises e. the amount of investment rises
A new tool that the Fed started using in late 2008 was that it began to pay interest on the reserves banks hold in their federal reserve accounts
a. True b. False
If a nation merges its currency with another nation to create a single currency, what must it give up?
a. the ability to purchase currency in foreign exchange markets b. the ability to determine its own nationally-oriented monetary policy c. the ability to fight recessions and control inflations d. the ability to sell currency in foreign exchange markets
Employers near military bases are aware that wives generally accompany their servicemen husbands when they are transferred. When presented with nonservice-wife applicants and wives of servicemen, they hire the nonservice-wife applicants. This is an example of
a. gender discrimination. b. statistical discrimination. c. economic discrimination. d. prejudicial discrimination.