If the price of output increases, the equilibrium wage of workers who produce that output will ________ and ________ workers will be hired.
A. increase; more
B. increase; fewer
C. decrease; more
D. decrease; fewer
Answer: A
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In the long run, a reduction in productivity will cause
A) an increase in the capital—labor ratio and an increase in consumption per worker. B) an increase in the capital—labor ratio and a decrease in consumption per worker. C) a decrease in the capital—labor ratio and a decrease in consumption per worker. D) a decrease in the capital—labor ratio and an increase in consumption per worker.
Suppose that a new drug has been approved to treat a life-threatening disease. The demand for that drug is shown on the graph below. Prior to approval of this drug, the only treatment for this condition was any one of several non-prescription, or over-the-counter, pain relievers. The demand for one brand of the several non-prescription pain relievers is also shown on the graph. 
Demand for the new drug is ________ while demand for one brand of the over-the-counter pain relievers is ________.
A. the horizontal line at $60; the line labeled B B. the line labeled B; the line labeled A C. the line labeled A; the line labeled B D. the vertical line at 100; the line labeled A.
Which of the following decreases the demand for money?
A) an increase in the price level B) an increase in the quantity of money C) a decrease in real GDP D) a decrease in the cost of printing money
Recall the Application about intellectual property in GDP accounts to answer the following question(s).According to the Application, after 2013, firm expenditures on research and development and new artistic work were treated as ________ in our GDP accounts.
A. intermediate inputs B. investment C. net exports D. consumption