When interest rates fall, people will be willing to hold more money.
a. true
b. false
Ans: a. true
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What is the shape of the long-run aggregate supply curve? Why?
What will be an ideal response?
Heterogeneous population
A) implies that heteroskedasticity-robust standard errors must be used. B) suggest that multiple characteristics must be used to describe the population. C) effects can be captured through interaction terms. D) refers to circumstances in which there is unobserved variation in the causal effect with the population.
Which of the following is considered a contributive standard for the distribution of income?
A) rewarding workers according to their productivity B) rewarding workers according to their needs C) rewarding workers according to the number of their dependents D) all of the above
The value of the marginal product of labor is calculated by multiplying the
a. price of output by the quantity of labor. b. price of output by the marginal product of labor. c. wage by the quantity of labor. d. wage by the marginal product of labor.