The graph illustrates the supply of sweaters. Which of the following events will increase the quantity supplied of sweaters?
A) a rise in the price of a sweater
B) a rise in the wage rate paid to the workers who make sweaters
C) a rise in the expected future price of a sweater
D) an increase in the number of sellers of sweaters
E) a decrease in the number of sweater buyers
A
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A scatterplot allows us
A) to mark peaks and troughs. B) to determine whether a series leads or lags. C) to see the comovement between two time series. D) to determine how persistent a series is.
Goods that are not rival in consumption, but are excludable are:
A. a common resource. B. an artificially scarce good. C. a public good. D. a private good.
The data suggest that wages increase more with age for the highly educated compared to the less educated. This is evidence that
A. highly educated people also invest more in postschooling human capital compared to the less educated. B. the return to education is low for all education levels. C. the return to education is constant with respect to age. D. less educated workers invest on-the-job training more so than do the highly educated. E. on-the-job training is unrelated to the level of formal schooling.
In which of the following situations is expansionary monetary policy most effective?
A. The Fed raises the reserve requirement. B. The Fed sells more securities. C. The Fed raises the discount rate. D. Banks are willing to lend excess reserves.