The impact of an increase in the wage rate on labor demand is represented by ________, assuming all else equal
A) rightward shift in the demand curve for labor
B) upward movement along the demand curve for labor
C) leftward shift in the demand curve for labor
D) downward movement along the demand curve for labor
B
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Which of the following transactions is NOT recorded in the capital and financial account?
A) foreign investment in the United States B) U.S. investment abroad C) statistical discrepancy D) net interest income
Each governor on the Board of Governors can serve
A) only one nonrenewable fourteen-year term. B) one full nonrenewable fourteen-year term plus part of another term. C) only one nonrenewable eight-year term. D) one full nonrenewable eight-year term plus part of another term.
When those most likely to produce the outcome insured against are the ones who purchase insurance, insurance companies are said to face the problem of
A) fraudulent claims. B) moral hazard. C) adverse selection. D) pecuniary purchases.
In the above figure, what happens to the firm's optimal level of output if the price it receives for its product increases from P2 to P3?
A) Output stays the same. B) Output decreases. C) Output increases. D) There is not enough information provided to know what happens to output.