If the Fed raises the discount rate, what will be the effect on the money supply?
a. It will decrease the money supply.
b. It will increase the money supply.
c. No change in the money supply.
d. Not enough data to give an answer.
a
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Slower growth in labor demand in combination with increases in labor supply explains ________ accompanied by ________.
A. a slowdown in real wage growth; increasing wage inequality B. a slowdown in real wage growth; a decline in employment C. accelerated real wage growth; a decline in employment D. a slowdown in real wage growth; rapid employment growth
If the demand for a good is perfectly elastic, the price elasticity of demand is ________ and the demand curve is ________
A) infinite; vertical B) zero; vertical C) zero; horizontal D) infinite; horizontal
The above table gives some production and cost information for Flaming Fernando's, a restaurant that sells Fiery Frijoles. What is the average total cost of producing 4,500 frijoles?
A) $2 B) $225 C) $9000 D) More information is needed to determine the answer.
Risk-averse workers
A. are willing to accept large wage decreases in exchange for a safer work environment. B. never work in risky environments. C. are willing to work in riskier environments for a relatively low increase in the wage. D. have shallow wage-risk indifference curves when risk is graphed on the x-axis. E. are more productive than risk-loving workers.