A decrease in foreign output would cause the domestic country's net exports to ________ and cause the domestic country's IS curve to ________.
A. rise; shift up
B. rise; shift down
C. fall; shift up
D. fall; shift down
Answer: D
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If a union raises initiation fees significantly and if employers in the industry hire only union workers, the supply of union labor curve will shift to the left
a. True b. False
If banks cannot lend all of their excess reserves,
a. the potential money multiplier increases b. the actual money multiplier decreases c. the potential money multiplier decreases d. the amount of loans by the bank increases e. demand deposits decrease
Which of the following is a macroeconomic policy?
A. Regulations limiting automobile emissions. B. Requiring locks on all guns. C. Tax cuts to bring the federal budget into balance D. How an early freeze in California will affect the price of fruit.
Suppose workers from group A have an average productivity of $15 per hour and that employers have a productivity test that is 100% accurate 1/3 of the time, but has no value 2/3 of the time. What is the best estimate of the VMP of a worker from group A with a test score of $21 per hour?
A. $18 B. $21 C. $13 D. $17