Consider the market for pilots. What is likely to happen to the equilibrium wage and quantity of pilots if the government enforces a lower mandatory retirement age, say from age 65 to age 62?
A) The equilibrium wage rises and the equilibrium quantity of pilots falls.
B) The equilibrium wage and the equilibrium quantity of pilots fall.
C) The equilibrium wage and the equilibrium quantity of pilots rise.
D) The equilibrium wage falls and the equilibrium quantity of pilots rises.
A
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Capital goods are
A. long-lived goods used for producing other goods and services. B. excluded from GDP. C. the end products of production. D. publicly provided.
Everything else held constant, in the market for reserves, when the supply for federal funds intersects the reserve demand curve along the horizontal section of the demand curve, lowering the interest rate paid on excess reserves
A) increases the federal funds rate. B) lowers the federal funds rate. C) has no effect on the federal funds rate. D) has an indeterminate effect of the federal funds rate.
Economic problems are made manageable by stripping away some of the unnecessary details
a. True b. False Indicate whether the statement is true or false
Which of the following was not one of the likely causes of the productivity problem of the 1970s?
A. an increase in research and development spending B. a reduction in government regulation C. rapid growth in investment spending D. all of the above