Minimum wage laws tend to make the price level more flexible rather than less flexible.
Answer the following statement true (T) or false (F)
False
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Which of the following macroeconomic variables is procyclical and coincident with the business cycle?
A) Residential investment B) Nominal interest rates C) Industrial production D) Unemployment
Compared to a competitive input market, a monopsonist will hire:
a. more and pay a higher input price. b. less but pay a higher input price. c. more but pay a lower input price. d. less and pay a lower input price.
A recessionary gap exists when the level of full-employment output exceeds the equilibrium level of output
Indicate whether the statement is true or false
The short-run effects of government's financial rescue program and fiscal stimulus package helped the economy increase aggregate demand curing the Great Recession
a. True b. False Indicate whether the statement is true or false