According to the theory of efficiency wages, it may be profitable for firms to keep wages high even in the presence of a surplus of labor
a. True
b. False
Indicate whether the statement is true or false
True
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Total utility is best defined by which of the following?
a. The total satisfaction received from consuming a particular amount of a product b. The additional satisfaction received from consuming one more unit of a product c. The maximum amount of satisfaction from consuming a product d. The change in marginal utility multiplied by the price of a product
Decisions regarding purchases and sales of government securities by the Fed are made by the:
a. Discount Committee (DC). b. Federal Open Market Committee (FOMC). c. Federal Funds Committee (FFC). d. Federal Deposit Insurance Commission (FDIC).
Suppose that some country had an adult population of about 46 million, a labor-force participation rate of 75 percent, and an unemployment rate of 8 percent. How many people were unemployed?
a. 2.54 million b. 2.76 million c. 3.68 million d. 8 million
Which of the following is true when the federal government is running a budget deficit?
What will be an ideal response?