When there is a labor union, the labor supply curve is
a. a horizontal line at the desired wage
b. positively sloped
c. negatively sloped
d. a vertical line at the desired level of employment
e. backward bending
A
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Why do many economists advocate a consumption tax rather than an income tax?
An appreciation of the U.S. real exchange rate induces U.S. consumers to buy
a. fewer domestic goods and fewer foreign goods. b. more domestic goods and fewer foreign goods. c. fewer domestic goods and more foreign goods. d. more domestic goods and more foreign goods.
Graphically illustrate and explain what effect a sale of bonds by the Federal Reserve will have on the money market
What will be an ideal response?
The trade-off between current consumption and the production of capital goods is also a trade-off between
A) the future cost for capital goods and future cost of consumption goods. B) having fewer needs and more wants in the future. C) satisfying the needs of the poor and the wants of the wealthy. D) current consumption and future consumption.