Refer to the above table. At a wage rate of $23 per worker, the firm will choose to employ:
A. 2 workers
B. 3 workers
C. 4 workers
D. 5 workers
B. 3 workers
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A prediction based on rational expectations ________
A) relies solely on past experience B) will always be superior to one based on adaptive expectations C) is based on real, rather than nominal variables D) will not always be accurate
An increase in the US demand for pound causes
a. An appreciation of the pound b. Depreciation in the dollar c. None of the above d. Both a and b
One of the most significant developments in labor supply in recent times is the increase in the labor force participation of married women.
Answer the following statement true (T) or false (F)
Milton Friedman's assertion that "inflation is a monetary phenomenon" is based on:
A. the assumption of constant nominal GDP growth. B. the assumption that the price level grows at the same rate as real GDP. C. the quantity theory of money. D. the assumption that the central bank increases the money supply by a constant rate every year.