The supply of labor does not depend upon
a. the demand for labor
b. the amount of wealth held by workers
c. the size of the population
d. alternative employment opportunities
e. the location of the work place
A
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If the government wanted to offset the effect of a fall in consumer confidence on AD, it might: a. decrease government purchases. b. decrease taxes
c. increase taxes. d. do either a. or c.
Some nations that seek to produce all of their own needs face the problem that a. they can deplete their natural resources faster as a result
b. some industries are too small to be efficient if restricted to their domestic markets alone. c. the opportunity cost of producing some of their own goods is higher than that of trading with others for them. d. all of the above are true.
If the Fed has a goal of stable real GDP and the government announces a tax cut, which of the following would occur?
a. Money demand would not change, real GDP would not change, the interest rate would decrease, and there would be partial crowding out. b. Money demand would not change, real GDP would not change, the interest rate would increase, and there would be complete crowding out. c. Money demand would increase, real GDP would not change, the interest rate would increase, and there would be partial crowding out. d. Money demand would not change, real GDP would increase, the interest rate would decrease, and there would be complete crowding out. e. Money demand would increase, real GDP would not change, the interest rate would decrease, and there would be complete crowding out.
A graph shows the quantity of corn on the vertical axis and the quantity of steel on the horizontal axis. What is the proper interpretation of a horizontal line at a particular quantity for corn that is parallel to the horizontal axis of the graph?
What is the slope of the horizontal line? Please provide the best answer for the statement.