Supply tends to be more elastic in the short run and more inelastic in the long run
a. True
b. False
Indicate whether the statement is true or false
False
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The general-equilibrium analysis of a minimum wage applied to only some sectors of the economy suggests that
A) workers in all sectors will face increased wages. B) some workers in the covered sectors will lose their jobs and remain unemployed. C) some workers originally employed in the covered sectors will move to the uncovered sectors, driving down wages in the uncovered sectors. D) all workers will be worse off.
An increase in deficit spending tends to raise interest rates, thereby resulting in a multiplier effect that is higher than what would be associated with an equivalent increase in consumption spending
a. True b. False Indicate whether the statement is true or false
The Federal Reserve Bank of Minneapolis once chartered a small airplane to deliver money to a commercial bank that was experiencing a "mad run" on the bank
Indicate whether the statement is true or false
The use of hierarchies is common in modern corporations
A. because of the principle of comparative advantage. B. to enhance employee buy-in. C. to avoid collective-action problems. D. because of the principle of separation of decision management and decision control.