Refer to Figure 17-6. Under Scheme I
A) workers signal their productivity to the firm by consistently selling above 30 vacuum cleaners.
B) the incentive to increase productivity only occurs for sales of fewer than 20 vacuum cleaners or more than 30 vacuum cleaners.
C) workers compete with each other to see who can sell more than 20 vacuum cleaners in the shortest possible time.
D) workers have no incentive to sell more than 30 vacuum cleaners.
D
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If the quantity of money increases, the
A) price level rises and the AD curve does not shift. B) AD curve shifts leftward and aggregate demand decreases. C) AD curve does not shift and there is a movement upward along the curve. D) AD curve shifts rightward and aggregate demand increases.
Compared to the perfectly competitive outcome, monopolistically competitive markets will result in:
A. a wider variety of products and higher prices. B. less product variety and higher prices. C. a wider variety of products and lower prices. D. less product variety and lower prices.
The current role of the International Monetary Fund is one of
A. supervising a system of fixed exchange rates. B. providing assistance to countries with currency or debt problems. C. setting exchange rates based on a gold-exchange standard. D. acting as a lender of last resort to central banks.
Suppose the Federal Reserve buys bonds from the banking system, the money supply curve ________.
A. will become flatter B. will become steeper C. shift to the left D. shift to the right