Which of the following is true?
a. As the national debt increases relative to GDP, interest on the debt relative to GDP declines.
b. As the national debt decreases relative to GDP, interest on the debt relative to GDP rises.
c. As the national debt increases relative to GDP, interest on the debt relative to GDP rises.
d. The national debt relative to GDP has been constant in recent years.
e. The national debt relative to GDP has been falling in the last few years.
C
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The above figure shows the market for finish carpenters in Bozeman. There is a minimum wage set at $18
Compared to the initial equilibrium without the minimum wage, once the minimum wage is in place, and after taking account of job search, the total workers' surplus ________ and the total firms' surplus ________. A) decreases; increases B) increases; increases C) increases; decreases D) does not change; increases E) decreases; decreases
Refer to Figure 17-6. If firms and workers have adaptive expectations, an expansionary monetary policy will cause the short-run equilibrium to move from
A) point B to point C. B) point A to point C. C) point B to point A. D) point A to point B. E) point C to point B.
Which of the following is an example of active fiscal policy?
What will be an ideal response?
The value of the marginal product of labor, VMPL, for the perfectly competitive firm equals
A. the revenue from the sale of one more unit of output. B. the total revenue the firm will get by selling the equilibrium amount of output. C. the price of the product being produced by labor. D. the extra revenue the firm gets by selling the output of one additional unit of labor.