Use the following saving schedule to answer the next question. 
Dissaving occurs when disposable income is
A. equal to level 2.
B. less than level 2.
C. equal to level 3.
D. greater than level 2.
Answer: B
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Suppose that because of inflation, the absolute price of a gallon of milk increases by 20% and the absolute price of a gallon of gasoline increases by 10%. In this situation, the price of milk relative to the price of gasoline
a. falls. b. rises. c. remains the same. d. changes unpredictably.
The exchange rate converts
a. one currency value to another b. labor units to output units c. miles to kilometers d. physical capital units to human capital units e. none of the above
Show in a diagram an S-curve and a 45-degree line. Are all three points of intersection stable equilibrium points? Explain
What will be an ideal response?
Suppose the downward sloping labor demand curve shifts rightward in a labor market with a single employer (monopsony). What happens to the marginal expenditure curve?
A) Shifts left B) Shifts right C) Remains the same D) We do not have enough information to answer this question.