Given that unions face a downward-sloping demand curve for labor, which of the following is not true concerning the optimal union wage rate at a given employment level?
A. It is above the labor supply curve.
B. It is above the labor demand curve.
C. It is above the marginal wage.
D. It exceeds the competitive wage.
Answer: B
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The consumption function becomes flatter if:
a. the average propensity to spend increases. b. the marginal propensity to spend increases. c. the marginal propensity to save increases. d. the autonomous consumption increases. e. the autonomous consumption decreases.
A utility-maximizing consumer will choose a collection of goods
a. represented by a point below her budget line b. represented by a point above her budget line c. for which the marginal utility from each good is the same d. for which the marginal utility divided by the price is the same or each good e. for which the total utility from each good is the same
The empirical evidence on the velocity of money, specifically M2, shows it to be relatively stable over the long run. Does this imply that monetary policymakers really should focus on the growth rate of money for economic stability?
What will be an ideal response?
Inputs a manager may adjust in order to alter production are:
A. all factors. B. variable factors. C. fixed factors. D. long-run factors.