Which furniture production process would have the highest wage rates?
a. furniture made by handsaw and hammer
b. furniture made with power equipment
c. furniture made by grade school-educated workers
d. furniture made in an automated furniture factory
d
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The interest-rate effect is partially explained by the fact that a higher price level reduces money demand
a. True b. False Indicate whether the statement is true or false
Suppose the government used the following formula to compute a family's tax liability: Taxes owed = 28% of income - $8,000 . How much would a family that earned $20,000 owe?
a. -$8,000 b. -$2,400 c. $0 d. $2,400
An action that an individual takes in one period to try to control her behavior in a future period is called
A. a maximin strategy. B. a commitment device. C. behavioral conditioning. D. Pavlovian behavior.
Refer to the information provided in Figure 7.9 below to answer the question(s) that follow. 
Figure 7.9Refer to Figure 7.9. The firm's isocost line could shift from AB to CD if
A. the price of capital decreased. B. the firm's total expenditures increased by 50%. C. the price of capital and labor each decreased by 33.3%. D. either B or C