The real wage will fall if price ________ the nominal wage
a. decreases more than
b. increases more than
c. increases less than
d. decreases less than
b
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Holding the money deposits of businesses and households and making loans to the public are the basic functions of
A. the Federal Deposit Insurance Corporation and the Federal Savings and Loan Insurance Corporation. B. district banks of the Federal Reserve System. C. the Open Market Committee and the Board of Governors. D. commercial banks and thrift institutions.
Refer to the scenario above. If Jack has to decide between the number of paintings and sculptures he wants to make in the given time, which of the following will best represent his options?
A) A budget constraint B) Isoquants C) A production possibilities curve D) A supply curve
Refer to the diagram. At output level Q total fixed cost is:
A. 0BEQ.
B. BCDE.
C. 0BEQ - 0AFQ.
D. 0CDQ.
Price is the coordinating mechanism in a planned economy.
Answer the following statement true (T) or false (F)