In IS-LM analysis, the nominal interest rate is
A) purely a monetary phenomenon.
B) purely a real phenomenon.
C) both a monetary and a real phenomenon.
D) neither a real nor a monetary phenomenon, but determined by government policy.
C
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Which one of the following is TRUE in an open economy with a government sector?
A) The equilibrium level of real GDP occurs when total planned real expenditures equal real GDP. B) The equilibrium level of real GDP occurs when planned real investment spending is zero. C) The equilibrium level of real GDP occurs when planned real saving equals government spending. D) The equilibrium level of real GDP occurs when real net export spending equals zero.
Refer to Table 4-8. If a minimum wage of $10.00 an hour is mandated, what is the quantity of labor supplied?
A) 390,000 B) 370,000 C) 350,000 D) 40,000
In general, an increase in price could be caused by either:
a. an increase in demand or a decrease in supply. b. an increase in demand or an increase in supply. c. a decrease in demand or an increase in supply. d. an increase in demand or an increase in supply.
Which of the following would most likely cause a job to command a compensating wage differential?
a. There are barriers to the entry of new workers into the job market. b. The job is more dangerous than most other occupations. c. Wage rigidity prevents the wage rate from falling to the equilibrium level. d. There has been an increase in the price of another input that is substitutable for labor. e. The job market is dominated by one large firm.