A proportionate increase in the price level and the money wage in the classical model
a. increase labor supply.
b. decrease labor supply.
c. leave labor supply unchanged.
d. affect labor supply but the direction of the effect is uncertain.
C
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From the Civil War until 1914, what change(s) occurred in U.S. policies regarding tariffs?
(a) Tariff rates were generally higher and customs receipts were higher than before the Civil War. (b) As the momentum of the westward movement increased, increased revenues from land sales allowed Congress to return tariff rates to their pre-Civil War levels. (c) Customs revenues increased because of economic growth and the lack of important changes in tariff policy. (d) All of the above
You try to explain the number of IBM shares traded in the stock market per day in 2005. As an independent variable you choose the closing price of the share. This is an example of
A) simultaneous causality. B) invalid inference due to a small sample size. C) sample selection bias since you should analyze more than one stock. D) a situation where homoskedasticity-only standard errors should be used since you only analyze one company.
A financial intermediary is
A. a firm that specializes in borrowing funds from savers and lending those funds to investors. B. publicly owned but managed in the public interest. C. a firm that regulates the money supply. D. All of the choices are true of a financial intermediary.
From 1979-2007, labor income for U.S. households became more evenly distributed.
Answer the following statement true (T) or false (F)