Which movie is an allegory about late 19th century monetary policy?
a. The Wizard of Oz
b. Mary Poppins
c. It's a Wonderful Life
d. Trading Places
a
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A monopsony pays a wage rate ________ the marginal cost of labor and ________ the value of marginal product of labor
A) equal to; equal to B) lower than; lower than C) equal to; lower than D) lower than; equal to
When a firm is experiencing diseconomies of scale
A) the MP curve has a negative slope. B) the LRAC curve has a positive slope. C) it must also experience diminishing returns to labor. D) the MC curve has a negative slope.
The short-run aggregate supply curve shows that a change in inflation will cause (a) change(s) in ________
A) output B) potential output C) expected inflation D) price shocks E) all of the above
An increase in expected inflation for any given nominal interest rate will cause the:
A. bond supply curve to shift to the left. B. price of bonds to increase. C. bond demand curve to shift to the right. D. price of bonds to decrease.