The determinants of the market supply of labor include all of the following except
A. The market wage rate.
B. Prices of consumer goods.
C. Taxes.
D. Income and wealth.
Answer: A
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The amount of a good sold in a market at a particular price cannot exceed the quantity
A. demanded at that price. B. supplied at that price. C. sold when there is a price floor. D. sold when there is a price ceiling.
If the CPI for this year is 220 and the CPI for last year was 215, the inflation rate is
A) just over 2 percent. B) 5 percent. C) just over 5 percent. D) 10 percent.
An example of a final good would be
A) the coffee beans sold to Starbucks. B) the whipped cream sold to Starbucks. C) the soy milk sold to Starbucks. D) a soy latte sold by Starbucks to a student.
The efficient markets hypothesis predicts that stock prices follow a "random walk." The implication of this hypothesis for investing in stocks is
A) a "churning strategy" of buying and selling often to catch market swings. B) turning over your stock portfolio each month, selecting stocks by throwing darts at the stock page. C) a "buy and hold strategy" of holding stocks to avoid brokerage commissions. D) following the advice of technical analysts.