Refer to Figure 16.1. An increase in the corporate tax rate is best represented by a movement from
A) point A to point B.
B) point B to point A.
C) point A to point C.
D) point C to point A.
C
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As job opportunities for women and the wages those jobs pay have increased, the opportunity cost of doing housework has ________, so many families have chosen to hire specialists in households chores, such as cleaning services and lawn care services
, because the cost of these specialists is ________ than the cost of the wife (or husband) performing those chores. A) decreased; lower B) increased; higher C) decreased; higher D) increased; lower
Suppose the labor force stays constant, and the working-age population stays constant, but a greater number of persons who were unemployed become employed. The labor force participation rate will
A) increase. B) remain constant. C) decrease. D) not change in a way that can be predicted.
Suppose most people had anticipated that inflation would be 3% in the coming year because the Fed would increase the money supply by 3%. Instead, the Fed increases the money supply by 5%
In the short run, this would cause actual output to be ________ full-employment output and prices to increase by ________ 3%. A) above; more than B) above; less than C) below; more than D) below; less than
When more people who are not working start looking for jobs, the labor-force participation rate increases.
Answer the following statement true (T) or false (F)