The demand for labor curve
A) is downward sloping because productivity of labor diminishes as more workers are employed.
B) is upward sloping and the supply curve of labor is downward sloping.
C) is upward sloping because productivity of labor diminishes as more workers are employed.
D) shifts rightward when the real wage rate rises.
A
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In order to ________, a government must decrease spending and increase taxation
A) increase aggregate demand B) decrease aggregate supply C) increase aggregate supply D) decrease aggregate demand
Suppose Marquette Bank and Trust has $10 million in total deposits and the required reserve ratio is 7%. How many dollars can the bank use to seek profit opportunities?
A) $9.3 million B) $7 million C) $930,000 D) $700,000 E) 0. Banks cannot seek profits.
Financial contributions to the campaigns of members of Congress, state legislators, and other elected officials by firms that seek special interest legislation that make the firms better off are
A) illegal. B) the result of the voting paradox. C) irrational because elected officials will almost always act in the interest of the voters who have to pay the cost of the legislation. D) examples of rent seeking.
Jake just quit his job as a shoe salesman and is looking for work as an accountant, which is what his college degree is in. Jake would be considered:
A. frictionally unemployed. B. structurally unemployed C. cyclically unemployed. D. Jake is not in the labor force.