If total income remains the same but profits fall and real wages rise, the aggregate demand curve will most likely:
A. become flatter.
B. become steeper.
C. shift to the left.
D. shift to the right.
Answer: D
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The percentage of our population below the poverty line is about _____%.
Fill in the blank(s) with the appropriate word(s).
If the Fed purchases $100,000 of government bonds, and the reserve requirement is 20 percent, the maximum increase in the money supply is $ 500,000.
Answer the following statement true (T) or false (F)
Daily newspapers have been rising in price in recent years because:
A. wages in the newspaper industry have risen dramatically. B. the overhead costs have recently been spread over a shrinking number of buyers. C. capital has replaced virtually all labor used to produce a newspaper. D. long-standing government subsidies have been removed in most major cities.
The above figure shows the market for finish carpenters in Bozeman. If there is a minimum wage set at $18, then there will be
A) unemployment of 200 workers. B) a surplus of 200 workers. C) unemployment of 400 workers. D) a surplus of 400 workers. E) no unemployment of workers and no surplus of workers.