Which of the following is not a basic freedom guaranteed by the U.S. Constitution?
What will be an ideal response?
freedom to trade
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Refer to Figure 11-1. In a diagram that shows the marginal product of labor on the vertical axis and labor on the horizontal axis, the marginal product curve
A) never intersects the horizontal axis. B) intersects the horizontal axis at a point corresponding to the 5th worker. C) intersects the horizontal axis at a point corresponding to the 6th worker. D) intersects the horizontal axis at a point corresponding to the 8th worker.
Workers at a bicycle assembly plant currently earn the mandatory minimum wage. If the federal government increases the minimum wage by $1.00 per hour, then it is likely that the
a. demand for bicycle assembly workers will increase. b. supply of bicycles will shift to the right. c. supply of bicycles will shift to the left. d. firm must increase output to maintain profit levels.
Before they can be used in regular exchanges, the assets that make up M2 must often
A) be paid off if they are credit cards. B) be converted to M1 assets. C) have their interest computed. D) have reached term if they are insurance policies.
Assume that GDP = $10,000 and the MPC = 0.75. If policy makers want to increase GDP by 30 percent, by how much should they decrease taxes?
A) $300 B) $750 C) $1,000 D) $3,000