Which of the following would not be a prediction from economic labor theory regarding the wage of a field hand?
A. Wages would increase as the price of wheat increased.
B. Wages would decrease as interest rates rose.
C. Wages would increase with the imposition of restrictions on immigration .
D. Wages would decrease when the wheat thrasher increased harvesting productivity.
Answer: D
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In the United States, antitrust enforcement focuses on
A) the profitability of the leading firms in an industry. B) the degree of market concentration within a market. C) the average level of prices charged by firms. D) the price-cost margin of an industry.
During 2011 the inflation rate in Brazil was about 6.6% while in the U.S. it was about 3.3%. At the start of 2011 the nominal exchange rate was about 1.7 Brazilian real per U.S. dollar. If purchasing-power parity holds, about what should the nominal exchange rate have been at the end of 2011? Show your work
If the Fed wanted to use all three of its major monetary control tools to decrease the money supply, it would:
A. buy bonds, reduce the discount rate, and reduce reserve requirements. B. sell bonds, reduce the discount rate, and reduce reserve requirements. C. sell bonds, increase the discount rate, and increase reserve requirements. D. buy bonds, increase the discount rate, and increase reserve requirements.
When the economy is at full employment the
A) natural unemployment rate is equal to 0 percent. B) natural unemployment rate equals the unemployment rate. C) natural unemployment rate is equal to 10 percent. D) unemployment rate is equal to 0 percent.