Which of the following might increase the supply curve of labor?
a. Elimination of discrimination against blacks.
b. Elimination of discrimination against females.
c. Easing licensing requirements.
d. All of these.
d
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A lender need not be penalized by inflation if the
A. short-term rate of inflation is less than the long-term rate of inflation. B. long-term rate of inflation is less than the short-term rate of inflation. C. lender correctly anticipates inflation and increases the nominal interest rate accordingly. D. inflation is unanticipated by both borrower and lender.
Fill in the blanks: ________ is defined as a sustained ________ in the purchasing power of money
A) Inflation; fall B) Deflation; fall C) Inflation; rise D) Answers B and C above are both true.
To the extent that the political process of moving legislation through Congress is slow
A. the recognition time lag will be long. B. automatic stabilizers will not be effective. C. the action time lag will be long. D. the effect time lag will be long.
The value of total output decreases when labor leaves one industry and goes to another and capital leaves the second industry and goes to the first. This indicates that
A. the first situation was not efficient. B. it would be efficient to return to the first situation. C. the second situation is efficient. D. price is greater than marginal cost.