The table above gives the labor market for a small foreign economy. A(n) ________ would create ________
A) minimum wage of $9.00; a decrease in job search.
B) minimum wage of $5.00; an increase in job rationing.
C) efficiency wage of $9.00; an increase in job rationing.
D) efficiency wage of $8.00; unemployment and job rationing.
E) union-negotiated wage of $7.50; unemployment and job rationing.
C
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The price of electricity consumption increased in a country. Since electricity is used for the production of various goods and services, this will lead to a ________, assuming all else equal
A) rightward shift of the labor demand curves of firms B) upward movement along the labor demand curves of firms C) leftward shift of the labor demand curves of firms D) downward movement along the labor demand curves of firms
Which of the following is an example of a factor payment?
a. The U.S. government pays Sunset Farms a subsidy of $1 million per year. b. Yves is an entrepreneur who earns a profit of $2 million for putting capital together for a firm. c. Alchemy Chemicals uses $500,000 to replace worn out equipment. d. Healthy Grocers pays $750,000 to increase its stock of organic preserves.
Exhibit 9-2 A monopolistic competitive firm
?
If all firms in a monopolistic competitive industry have demand and cost curves like those shown in Exhibit 9-2, we would expect that in the long run:
A. all firms will leave the industry. B. some firms will leave the industry. C. firms in the industry earn zero economic profits. D. a number of new firms will enter the industry.
Refer to the figure below where the nominal interest rate equals 6% and the money supply equals 600. If the Federal Reserve wants to set the nominal interest rate at 10%, it must conduct open market ________ to set the money supply at ________. 
A. sales; 200 B. sales; 800 C. purchases; 800 D. purchases; 200