Recall the Application. If the organization in New Zealand was successful in getting the Olympics to include sheep shearing as a spectator sport, and this helped to raise the world price of wool, the quantity of wool supplied would ________ because
the market supply curve for wool is ________ sloped.
A) decrease; negatively B) increase; negatively
C) increase; positively D) decrease; positively
C
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The firm's demand for labor is derived directly from ________
A) the wage rate B) the supply of labor C) labor's cost D) labor's value of marginal product
The Fed attempts to affect the level of borrowed reserves by
A) changing the discount rate. B) changing legal reserve requirements. C) open market sales. D) open market purchases.
Which of the following was NOT part of the New Deal?
A. Social Security B. The federal minimum wage C. Unemployment insurance D. Medicare
Refer to the information provided in Figure 23.10 below to answer the question(s) that follow.
Figure 23.10Refer to Figure 23.10. [200 + 0.8Y] represents the
A. aggregate expenditures function. B. aggregate income function. C. MPC. D. MPS.