________ is the narrowest monetary aggregate that the Fed reports
A) M0
B) M1
C) M2
D) M3
B
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Public goods are not normally characterized by the following:
a. externalities b. market provision c. the free rider problem d. non-exclusion e. all the above characterize public goods
Wages tend to be "sticky" because:
A. contracts are often negotiated for long terms and cannot be easily changed. B. workers are less likely to work as hard if their pay may be cut due to market performance and not their performance. C. constantly changing wages creates uncertainty and costs the employer a lot of time and energy to change wage rates. D. All of these are possible reasons why wages might be sticky.
On the graph that depicts the theory of liquidity preference,
a. the demand-for-money curve is vertical. b. the supply-of-money curve is vertical. c. the interest rate is measured along the horizontal axis. d. the price level is measured along the vertical axis.
When the supply of labor increases, according to the specificfactors model, which of the following is NOT likely to happen?
a. The number of workers employed will increase. b. The wages for workers will decline. c. The marginal product of labor shifts to the right. d. The overall wage in the economy increases in the short run.