If Janella increases her supply of labor by 6 percent in response to a 5 percent increase in the wage rate, her elasticity of labor supply must be
A. 5.0.
B. 1.2.
C. 6.0.
D. 0.83.
Answer: B
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Deflation is a situation in which the:
A. prices of most goods and services are rising over time. B. quantity of goods and services produced is increasing over time. C. prices of most goods and services are falling over time. D. quantity of goods and services produced is decreasing over time.
In years when teenagers become a greater percentage of the labor force,
A) the natural rate of unemployment falls. B) the natural rate of unemployment rises. C) the inflation rate rises. D) the inflation rate falls.
If the government spends more than it receives in taxes during a given interval, then the result is
A) a balanced budget. B) the gross public debt. C) the net public debt. D) a government budget deficit.
Refer to the information provided in Figure 10.4 below to answer the question(s) that follow. 
Figure 10.4 Refer to Figure 10.4. At a market wage rate of $15, firms will hire ________ units of labor.
A. 175 B. 100 C. between 0 and 99 D. 0