If Eddie Li is a skilled worker employed in a low-skill job, he is
a. underemployed
b. unemployed
c. overemployed
d. fully employed
e. All the answers are correct
A
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In analyzing the decision to shut down in the short run we assume that the firm's fixed costs are
A) nonmonetary opportunity costs. B) sunk costs. C) implicit costs. D) capital costs.
What would a rightward shift of the labor demand curve indicate?
a. Firms want to hire more workers than before at any given wage rate. b. Households want to supply more hours of work than before at any given wage rate. c. Firms want to pay a lower wage rate than before at any given level of employment. d. Households want to supply fewer hours of work than before at any given wage rate. e. Firms want to hire less workers than before at any given wage rate.
If the Fed is concerned about inflation, it should:
A. buy bonds or raise the discount rate. B. buy bonds or reduce the discount rate. C. sell bonds or raise the discount rate. D. sell bonds or reduce the discount rate.
Other things constant, an increase in interest rates will
A) increase your incentive to borrow. B) increase your incentive to save. C) increase your incentive to buy a new car on credit. D) reduce your incentive to save.