Refer to Figure 14.3. To maximize total wages paid to workers, the labor union will agree to wage rate:
A) W0.
B) W1.
C) W2.
D) W3.
E) none of the above
C
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Suppose there is news that indicates that gasoline supplies might suddenly become disrupted by a truckers' union strike
What would you expect would happen to the demand for gasoline in the present? How might consumers change their behavior and why? What impact would this news have on the price of gasoline immediately? Would it matter whether the news story was accurate?
Refer to Figure 2-4. Consider the following events:
a. an increase in the patent protection period to 75 years b. a hurricane that destroys a substantial portion of a nation's capital stock c. the implementation of a secure and enforceable property rights system Which of the events listed above could cause a movement from W to Z? A) a, b, and c B) a only C) a and c only D) a and b only E) b and c only
When the Fed purchased a large quantity of long-term bonds, as it did during 2008-2010 with its quantitative easing policies, but most banks held onto their new reserves, the money multiplier ________ while the monetary base ________
A) increased; increased B) increased; decreased C) decreased; increased D) decreased; decreased
As the dollar depreciates, the dollar price of imported goods _________, ultimately shifting the United States AD curve __________________
A) rises; rightward B) rises; leftward C) falls; rightward D) falls; leftward