The market labor supply curve is usually __________ over the relevant range of market wage rates
a. positively sloped
b. negatively sloped
c. backward bending
d. vertical
e. horizontal
A
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The marginal cost curve
A) shows the maximum price that a producer must receive to induce it to produce a unit of a good or service. B) shows the minimum price sellers must receive to produce a unit of a good or service. C) is the same as the demand curve. D) shows what buyers are willing to give up to get one more unit of a good or service.
The consumption function is the relationship between
A) real consumption spending and real taxes. B) real consumption spending and investment spending. C) real consumption spending and real disposable income. D) real consumption spending and real saving.
The movement away from bank lending towards asset-backed securities:
A. has eliminated the bank-lending channel as a mechanism for monetary policy. B. has not affected the importance of the bank-lending channel. C. has increased the importance of the bank-lending channel of monetary policy. D. will require the FOMC to rethink the quantitative impact of changing the target federal funds rate.
If the U.S. government sells bonds to fund improvements in infrastructure, and the bonds are bought by foreigners, the burden on future U.S. taxpayers
A) is not increased so long as the return on the improvements is at or above the borrowing cost. B) is not increased so long as the return on the improvements is below the borrowing cost. C) is not increased so long as the return on the improvements is above zero. D) is increased regardless of the borrowing cost and the return on the improvements.