If your salary doubled and the cost of living doubled, then your real wage rate would _______.
Fill in the blank(s) with the appropriate word(s).
remain the same
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The decline in the transaction demand for money in the mid- and late 1970s
A) was accompanied by a fall in velocity. B) was predicted by most economists. C) may be partly explained by the development of money-market funds and other financial innovations. D) was the result of the Federal Reserve's easy-money policy.
If the real wage is equal to 7 widgets, and only an integer number of workers can be hired, the Widget company should hire
A) 2 workers. B) 3 workers. C) 4 workers. D) 5 workers.
You grow poplar trees. The lumber yard purchases cut trees from you. The trees grow 1 foot per year. Assuming a constant real price per foot for poplar and a real interest rate of 3%, would you sell a 20-foot tree today?
What will be an ideal response?
The marginal benefit of pollution abatement is the
A) additional cost to clean up an additional unit of pollution. B) additional benefit from cleaning up an additional unit of pollution. C) total social costs of pollution clean-up divided by total social benefits. D) total social costs of pollution clean-up divided by the total units of clean-up.