The substitution effect makes workers want to work less when the wage increases.
Answer the following statement true (T) or false (F)
False
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A decrease in the interest rate, other things being equal, causes a (an)
Based on the data in the table above, what is the value of M1?
A) $2,950 billion B) $1,361 billion C) $752 billion D) $609 billion
Opening an industry to international competition tends to:
A. increase the incidence of lazy monopolists. B. force lazy monopolists to increase efficiency. C. increase X-inefficiency. D. raise a monopolist's profit as the price is driven up.
A nation can produce two products: steel and wheat. The table below is the nation's production possibilities schedule:Production Possibilities ScheduleProductABCDEFSteel012345Wheat100907555300In moving from combination E to F, the opportunity cost of an additional unit of steel is
A. 0 unit of wheat. B. 30 units of wheat. C. 5 units of steel. D. 1 unit of steel.