People's decision about whether to hold money or bonds can be influenced by the interest rate
a. True
b. False
A
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The figure above shows a nation's consumption function. The amount of autonomous consumption expenditure is
A) $1 trillion. B) more than $3 trillion. C) $3 trillion. D) $0. E) $2 trillion.
If a minimum wage is introduced that is above the equilibrium wage rate,
A) the quantity of labor demanded increases. B) job search activity increases. C) the supply of labor increases and the supply of labor curve shifts rightward. D) unemployment decreases because more workers accept jobs at the higher minimum wage rate. E) the quantity of labor supplied decreases because of the increase in unemployment.
Economic decision making recognizes that
A) all choices have benefits and costs. B) benefits are largely free while costs are not. C) costs are controllable but benefits are not measurable. D) prices do not reflect all information known to managers. E) resources and wants are limited.
Identify the non-price determinants that create changes in demand and can cause a shift in the demand curve
What will be an ideal response?