An individual labor-demand curve represents:
A. a worker's decisions around how many hours to work at each alternative wage.
B. the decisions of all workers around how many hours to work at each alternative wage.
C. a firm's decisions around how many hours to hire at each alternative wage.
D. the decisions of all firms around how many hours to work at each alternative wage.
C. a firm's decisions around how many hours to hire at each alternative wage.
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In the United States, health care spending as a percentage of GDP has declined since 1965
Indicate whether the statement is true or false
Monetary policy could be procyclical if the Federal Reserve
A) is late recognizing that a recession has begun and does not conduct expansionary monetary policy. B) is late recognizing that a recession has begun and conducts expansionary monetary policy. C) is quick to recognize that a recession has begun and conducts expansionary monetary policy. D) is quick to recognize that a recession has begun and does not conduct expansionary monetary policy.
One problem with fiat money, as compared to commodity money, is that: a. more resources are used to create fiat money
b. there is frequently too little fiat money available. c. there is a greater potential for inflation with fiat money. d. fiat money must be turned in to the government to receive the commodity on which it is based. e. fiat money is less divisible than commodity money.
Suppose we want to know how much money your grandparents would have to earn now to have purchasing power equivalent to their income in 1969. We could:
A. translate their nominal income in 1969 into constant, real dollars of today. B. translate their nominal income today into 1969 dollars. C. take a ratio of their income today with their income from 1969. D. None of these statements is true.