Which would cause a leftward shift in the supply curve for telephone service?
a. A decrease in the price of telephones
b. An increase in the wage of telephone workers
c. An increase in consumer incomes in the economy
d. An improvement in telephone technology
b. An increase in the wage of telephone workers
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Does it appear that currency boards make fixed exchange rates credible?
What will be an ideal response?
If those accused of antitrust violations sign a consent decree, they have
a. agreed to stop doing what they are accused of doing b. admitted to guilt c. agreed to a court trial d. contested the charges against them e. charged the government with wrongdoing
Suppose that during a recession, Whirlpool saw the demand for its major appliances fall by one-third. Even though the demand decreased, Whirlpool chose to maintain wages for its non-union employees. This is an example of
A. an explicit contract not to cut wages. B. an implicit or social contract not to cut wages. C. a relative-wage contract. D. employment-at-will.
Of the four effects on interest rates from an increase in the money supply, the initial effect is, generally, the
A) income effect. B) liquidity effect. C) price level effect. D) expected inflation effect.