Expansionary monetary policy occurs when
What will be an ideal response?
central bank acts to increase the money supply in an effort to stimulate the economy.
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Use the following graph to answer the next question.
The short-run equilibrium for this economy is at ________.
A. point e B. point f C. point g D. none of these points
Pluralistic ignorance exists when
A) the members of a group believe one thing but mistakenly assume that most of the other members believe something else. B) a group of bystanders all agree that something needs to be done but each feels less personal responsibility for taking action because each perceives that there are others who could take action. C) a majority of people in a group do not have the intellectual capacity of arriving at a viable solution to a public goods problem. D) the least-capable member of a group exerts his influence over the rest of the group when trying to arrive at a decision on how to internalize an externality.
When an input represents a larger proportion of a firm's total costs, then
A) demand for the input will tends to be less elastic. B) the input demand will not vary significantly with a change in input price. C) the usage of the input cannot be varied in the production function. D) demand for the input will tends to be more elastic.
Because a union is a form of monopoly, it must be concerned about the ________ slope of the demand curve for labor.
A. vertical B. downward C. horizontal D. upward