Suppose wages increase but employment decreases. These changes most likely were caused by
A. a decrease in labor demand.
B. an increase in labor supply.
C. a decrease in labor supply.
D. an increase in labor demand.
Answer: C
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Which of the following is a method for solving the problem of adverse selection?
A) truth in advertising laws B) product liability laws C) food labeling requirements D) All of the above.
Despite the monies spent by the federal and state governments, many observers believe which of the following?
a. public infrastructure such as bridges and roads is only adequate b. our educational system is lacking c. not enough monies are spent on homeland defense d. all of these are correct
If not all prices adjust instantly to changing economic circumstances, an unexpected fall in the price level leaves some firms with higher-than-desired prices, and these higher-than-desired prices depress sales and induce firms to reduce the quantity of goods and services they produce
a. True b. False Indicate whether the statement is true or false
The value of money varies
A. inversely with the average price level. B. directly with the volume of employment. C. directly with the average price level. D. directly with the interest rate.