Other things being equal, a decrease in the workplace amenities, such as decreased health care and less generous vacation options, would tend to shift the labor supply curve to the ____, thereby causing the market wages to ____
a. right; fall
b. right; increase
c. left; fall
d. left; rise
d
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Which of the following characteristics of a production possibilities frontier indicates that trade-offs must be made?
A. The downward slope B. The upward slope C. The constant slope D. The curvature
When the opportunity cost of producing more of a good is increasing, the marginal cost of producing more of the good is
A) decreasing. B) constant. C) increasing. D) More information is needed to answer the question.
How does the decreasing use of DVD players affect the market for prerecorded DVDs?
A) The demand curve for prerecorded DVDs shifts to the left. B) The quantity of prerecorded DVDs demanded decreases. C) The quantity of prerecorded DVDs demanded increases. D) The demand curve for prerecorded DVDs shifts to the right.
Which of the following observations is true?
a. State governments are the shareholders of the Fed. b. The Fed chairman is appointed for a ten year term. c. FOMC decisions largely determine short-term interest rates. d. Member banks proportionately share all of Federal Reserve's profits.