When the supply of a good decreases, there will be a(n):
A. increase in the quantity demanded.
B. decrease in buyers' reservation prices for the good.
C. decrease in the quantity demanded.
D. decrease in demand.
Answer: C
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Which of the following labor organizations was limited to skilled craft workers and emphasized that unions should control the place of employment; stick to wages, hours, and working conditions in their negotiations; win strikes; and, in politics,
"reward our friends and punish our enemies"? (a) The National Labor Union (b) The Knights of Labor (c) The American Federation of Labor (d) The American Labor Union
What role did the Reconstruction Finance Corporation play in the banking collapse of the early 1930s?
a. It provided loans to troubled banks. b. It provided insurance for consumer deposits. c. Its new regulations forced undercapitalized banks out of business. d. Its failure sparked a widespread run on bank deposits.
Aggregate supply can be thought of as
A. a fixed amount of output. B. unrelated to the price level. C. a schedule of output at different price levels. D. the volume of goods at the ends of the production possibilities curve.
If Federal Reserve officials attempt to pull the economy out of a recession when the price level is relatively stable, the policies they would most likely use would be to:
a. Buy government securities and increase the discount rate b. Sell government securities and decrease the discount rate c. Buy government securities and decrease the discount rate d. Sell government securities and increase the discount rate