The "law of demand" indicates that if SIUC increases the price of tuition, all other things remaining the same Question 22 options:
A. the quantity of classes demanded will decrease at SIUC
B. the demand for classes will decrease at SIUC
C. the demand for classes will increase at SIUC
D. the quantity of classes demanded will increase at SIUC
A. the quantity of classes demanded will decrease at SIUC
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Unemployment that naturally occurs during the normal workings of an economy as people change jobs and move across the country is called
A) frictional unemployment. B) natural unemployment. C) cyclical unemployment. D) structural unemployment.
If the supply of labor to a monopsonist is everywhere unit elastic, and the marginal expenditure equals $1, then the wage will equal
A) $0.50. B) $0.75. C) $1.00. D) $2.00.
A recessionary gap is the amount by which aggregate expenditures ____ the amount required to achieve full-employment equilibrium GDP.
A. exceed B. equal C. fall short of D. are greater than
Suppose the Federal Reserve wanted to reduce the money supply without using open-market operations. It could try to get the public to ________ their currency-deposit ratio and ________ banks' reserve requirements, which would in turn change the banks' reserve-deposit ratio.
A. increase; raise B. increase; lower C. decrease; raise D. decrease; lower