Refer to Scenario 18.1. When Curly made the loans to Larry and Shemp, the money supply
A) did not change.
B) decreased by 300 coins.
C) increased by 300 coins.
D) increased by 500 coins.
C
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Which of the following refers to human capital?
a. Money spent by business to acquire labor b. The acquired skill and productivity of workers c. The plant and equipment used with labor d. Money spent on purchasing the latest machinery e. Money that workers save
The optimal number of workers hired by a firm in a competitive labor market is determined by the quantity of labor associated with the following equation:
a. P = MRP b. MPP = MRP c. MRP = w d. P = w e. TLC = w
Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the short run would be:
A. P1 and Y2. B. P3 and Y1. C. P2 and Y2. D. P2 and Y3.
A valid argument against redistributing income to achieve complete equality is that
a. income equality would destroy the social cohesiveness that exists among different income groupings. b. this would eliminate the monetary incentives to work and produce. c. the cost of obtaining the equality would be so deflationary as to promote economic instability. d. income equality would imply class segregation based on factors such as sex or race since income would be constant.