The number of workers hired by a firm at a specific wage rate can be determined if you know the
a. price of the good
b. supply curve of labor
c. MPP of labor
d. MLC (marginal labor cost)
e. MRP of labor
E
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The ________ the marginal propensity to import, the ________ the multiplier
A) larger; more negative B) larger; smaller C) smaller; smaller D) larger; larger E) None of the above is correct, because the expenditure multiplier is not related to the marginal propensity to import.
If residents of the United States give more gifts to relatives abroad than they receive, unilateral transfers will be
A) positive. B) unaffected. C) negative. D) zeroed out.
Which of the following represents a difficulty related to setting the national poverty line in the United States?
a. Many people around the world are poorer than Americans. b. It is impossible to distinguish the poverty line from the poverty rate. c. Social programs mean that nobody in the United States is living in poverty. d. Median income and cost of living vary in different parts of the country.
Economist John Maynard Keynes wrote that the economy naturally gravitates toward smooth growth and high levels of employment
a. True b. False Indicate whether the statement is true or false