A government report that makes working in a particular industry less attractive to workers will most likely ________ the number of workers hired in that industry, and ________ the wage paid to those workers.
A. increase; increase
B. increase; decrease
C. decrease; increase
D. decrease; decrease
Answer: C
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An increase in a retailer's "overhead expenses"
A) compels the retailer to raise prices. B) enables the retailer to raise prices. C) makes it profitable for the retailer to raise prices. D) does not in itself make higher prices necessary, possible, or profitable.
If the Fed's goal is to hold income constant, an expansionary fiscal policy must be accompanied by ________ monetary policy, and the Fed must allow the interest rate to ________ significantly
A) an expansionary, rise B) an expansionary, fall C) a contractionary, rise D) a contractionary, fall
Diminishing marginal product means that ________
A) when adding extra units of a single input, output increases become smaller B) when adding extra units of a single input, output increases become larger C) when adding extra units of a single input, output declines D) the amount of output increases when we add more inputs E) none of the above
For barter exchange to take place,
a. there has to be a double coincidence of wants b. the goods must be divisible c. money must be assigned to each barter transaction to indicate the values exchanged d. no less than four parties (at least two sellers, two buyers) to the exchange are needed e. gold has to be one of the goods traded