Standardized goods and services sold in the market are likely to have high switch-over costs
Indicate whether the statement is true or false
F
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To change the federal funds rate, the Fed
A) coordinates with banks on establishing the new rate. B) tells banks how much to charge. C) uses open market operations to change the quantity of reserves. D) changes the income tax rate on interest income. E) increases or removes money from the stock market.
Which of the following factors has significantly increased the supply of labor in the United States since 1950?
A) an increase in the number of people who have received college degrees B) an increase in the labor force participation rate of women C) a large increase in the substitution effect as a result of higher wages D) a low birth rate and an aging population
Government austerity measures are more likely to resolve a sovereign debt crisis if ________
A) the real interest rate falls along with inflation B) the fiscal multipliers are especially large C) no aid is available from other countries, so the government is not tempted to abandon the austerity plan D) citizens, also, adopt austerity
If the graph shown represents Tina's budget constraint, which of the following consumption bundles can Tina not afford?
A. Three pairs of earrings and four hairbands
B. Two pairs of earrings and four hairbands
C. No earrings and six hairbands
D. Cannot answer this question without knowing Tina's income and the prices of the two goods