Which of the following are NOT assets on the Fed's balance sheet?
A) discount loans
B) U.S. Treasury deposits
C) cash items in the process of collection
D) U.S. Treasury bills
B
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Linder's hypothesis provides an explanation for
A) increasing returns to scale. B) imperfect competition. C) intraindustry trade. D) All of the above.
Which of the following would tend to decrease the demand for carpenters?
a. An increase in the wages of carpenters. b. An increase in the price of houses. c. A decrease in the demand for houses. d. An increase in the supply of carpenters.
Curly told Larry about his new business venture: Curly pays Acme International $1,000 per month for supplies, works out of his apartment on his own computer and earns a monthly revenue of $1,500. Should Larry quit his job and do what Curly is doing?
A. Not if Larry is earning more than $500 per month at his current job. B. Yes, as long as Larry can work out if his apartment and owns a computer. C. Yes, as long as Larry has at least $1,000 in savings to get started. D. Not unless Larry can borrow the $1,000 monthly payment at no interest.
The "macroeconomics" rebuttal to the traditional analysis of the minimum wage argues that
A. people work harder when they feel they are inadequately compensated, therefore an increase in the minimum wage may actually lower productivity. B. in the short-run, the demand elasticity of labor is such that businesses will actually increase the number of workers hired when the minimum wage increases. C. the rich consume more than the poor out of extra income, therefore an increase in the minimum wage increases aggregate demand. D. the rich consume less than the poor out of extra income, therefore an increase in the minimum wage increases aggregate demand.