Refer to the table. If an additional lump-sum tax of $20 were imposed, we would expect:
Answer the question on the basis of the following table:
A. equilibrium GDP to fall by $30.
B. equilibrium GDP to fall by $20.
C. equilibrium GDP to fall by $50.
D. equilibrium GDP to rise by $24.
A. equilibrium GDP to fall by $30.
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To change the rate of growth of the money supply, the Fed can do all but which one of the following?
A) Shift the demand for money curve by changing the interest rate. B) Engage in open market operations. C) Change the discount rate. D) Change the required reserve ratio.
Everything else equal, a depreciation of the dollar will:
A) cause the GDP of the U.S. to fall. B) cause the inflation rate in the U.S. to decrease. C) cause the GDP of the U.S. to increase. D) cause the net exports of the U.S. to decrease.
Which of the following is an example of a principal-agent relationship?
A) The relationship between two colleagues B) The relationship between a teacher and his student C) The relationship between an employer and a worker D) The relationship between two nations
The above figure represents the market for teenage workers at fast-food restaurants in Kansas City
a) What is the equilibrium wage rate and employment? b) Describe the market at a wage rate of $6 per hour. c) Describe the market at a wage rate of $12 an hour. d) How would an increase in the number of young, married college graduates, who tend to eat at fast-food restaurants, affect the figure, the equilibrium wage rate, and employment?