The correct chain of causation illustrating the changes caused by monetary policy is
a. money, interest rates, C + I + G + (X ? IM), I.
b. money, interest rates, I, C + I + G + (X ? IM).
c. C + I + G + (X ? IM), I, interest rates, money.
d. I, C + I + G + (X ? IM), money, interest rates.
b
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The individual firm operating in a perfectly competitive labor market
A) can hire more labor only by offering a higher wage. B) faces an inelastic demand for labor. C) will pay less to the additional labor employed. D) can buy all the labor it wants at the going market wage rate.
Describe the general shape of the average-fixed-cost curve
All of the following will decrease the demand for labor by firms in an industry except
A. a decrease in the prices of inputs that complement labor. B. a decrease in the demand for the product produced by the industry. C. a decrease in the price of the product produced by the industry. D. a decrease in the prices of inputs that substitute for labor.
Which of the following statements about U.S. trading partners is true?
a. The top trading partners are Canada, Mexico, China, and Japan. b. The historical reliance on trade with Europe has not changed. c. The United States trades almost exclusively with Asian countries. d. The top trading partners are Russia, Cuba, and the two Koreas.