When many banks choose to hold excess reserves, ______________ monetary policy may not work well.
a. tight
b. free
c. expansionary
d. contractionary
c. expansionary
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In the short run, if price falls below a firm's minimum average total cost, the firm should shut down
Indicate whether the statement is true or false
If the U.S. experiences an enormous surge of immigration, we could predict it would make the labor supply:
A. decrease and shift to the right. B. increase and shift to the right. C. increase and shift to the left. D. decrease and shift to the left.
The major difference between absolute purchasing power parity (APPP) and relative purchasing power parity (RPPP) is:
a. APPP deals the equilibrium exchange rate for a basket of goods, and RPPP deals with changes in equilibrium exchange rate for a basket of goods. b. APPP deals with changes in nominal exchange rates for a basket of goods, and RPPP deals with changes of exchange rates for a particular good. c. APPP deals with the equilibrium exchange rate for one good, and RPPP deals with the equilibrium exchange rate for a basket of goods. d. APPP deals with changes in nominal exchange rates for a basket of goods, and RPPP deals with levels of exchange rates for a particular good. e. None of the above.
A hedonic wage function could be applied to which of the following job characteristics?
A. the degree to which the area surrounding the job location is safe B. the degree to which a job involves monotonous work C. the probability of being injured on the job D. the degree to which a job involves strenuous work E. All of the above can be represented with a hedonic wage function.