19th-century cost-saving innovations in steamboat transportation included all of the following except
a. the replacement of steam-powered boilers by coal-burning engines.
b. the adoption of lighter-weight boats.
c. increases in the amount of cargo carried per vessel.
d. learning to operate the boats at night.
a. the replacement of steam power by petroleum.
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The quantity of labor supplied increases as the real wage rises because
A) higher real wages mean that nominal wages have increased. B) the opportunity cost of working increases. C) the quantity of labor demanded increases. D) labor force participation decreases so that only serious workers are left in the labor force. E) the opportunity cost of leisure rises.
Jane spends her monthly dining-out budget of $300.00 on either steak or lobster dinners. Using the above figure, what is the price of a steak dinner?
A) $10.00 B) $15.00 C) $20.00 D) $30.00
When did the Fed fail to engage in a pre-emptive strike to keep the economy at or near the natural rate of unemployment?
A) 1994 B) 1998 C) 2001 D) None of the above. The Fed acted in each of these years.
The aggregate demand curve for an economy depicts the:
a. quantity of goods and services demanded during a given time period at different interest rates, other things held constant. b. quantity of goods and services demanded at different price levels during different time periods, other things held constant. c. quantity of goods and services demanded at different price levels during a given time period, other things held constant. d. quantity of goods and services that the economy is capable of producing during a given time period, other things held constant. e. final quantity of goods and services actually produced by the economy during a given time period, other things held constant.