Recall the Application about the response of bike messengers in Zurich to a change in wages to answer the following question(s).Recall the Application. A study of bike messengers in Zurich showed that as the messengers' revenue share increased from 40% to 50%, they:
A. worked more shifts but pedaled slower.
B. worked less shifts and pedaled slower.
C. worked less shifts but pedaled faster.
D. worked more shifts and pedaled faster.
Answer: A
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For simplicity, the IS model assumes that neither net exports nor net taxes vary with income. A more realistic (and complicated) model would drop such assumptions. How would the behavior of the IS curve differ in the more realistic model?
What will be an ideal response?
Which of the following schools of thought emphasize the role of money supply in determining equilibrium real GDP and price level?
a. Traditional Keynesian economics b. New Keynesian economics c. New classical economics d. Classical economics e. Monetarist economics
What effect has the presence of federal deposit insurance had on the banking industry?
A. Banks have made riskier loans. B. Depositors have become more vigilant in monitoring the decisions made by managers of their banks. C. Banks now hold more excess reserves. D. Banks have made it more difficult for customers to qualify for loans.
Refer to the information provided in Figure 2.6 below to answer the question(s) that follow.
Figure 2.6Refer to Figure 2.6. Economic growth is represented by a
A. shift from ppf1 to ppf2. B. movement along ppf2. C. shift from ppf2 to ppf1. D. movement along ppf1.