The table above gives the labor market for a small foreign economy. Equilibrium in the labor market occurs at a real wage rate of
A) $7.15 per hour.
B) $8.50 per hour.
C) $9.00 per hour.
D) $7.65 per hour.
E) $8.00 per hour.
E
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Economists assume that business firms attempt to maximize their profits.
Answer the following statement true (T) or false (F)
Members of Congress are able to influence monetary policy, albeit indirectly, through their ability to
A) withhold appropriations from the Board of Governors. B) withhold appropriations from the Federal Open Market Committee. C) propose legislation that would force the Fed to submit budget requests to Congress, as must other government agencies. D) instruct the General Accounting Office to audit the foreign exchange market functions of the Federal Reserve.
Almost every time that there has been an inverted yield curve, what took place within one year?
A) recession B) rising inflation C) financial crisis D) higher bond yields
The market demand curve for a particular good
a. may be horizontal even if the individual consumers' demand curves are downward sloping b. will always shift to the right as the price of the good decreases c. is even more likely to be downward sloping than an individual consumer's demand curve d. will always shift to the right if consumers' incomes increase e. must be flatter than the flattest of the individual consumer demand curves