According to the law of supply, the higher the price the greater the quantity supplied
Indicate whether the statement is true or false
true
You might also like to view...
Why is there NO persistent unemployment in the classical model?
A) Unionization creates job security for workers. B) The wage level adjusts to eliminate unemployment. C) The interest rate adjusts to eliminate unemployment. D) The rate of economic growth is always high enough to allow those who want to work at current wages to find jobs.
In the market for reserves, if the federal funds rate is between the discount rate and the interest rate paid on excess reserves, an increase in the reserve requirement ________ the demand of reserves and causes the federal funds interest rate to
________, everything else held constant. A) decreases; fall B) increases; fall C) increases; rise D) decreases; rise
When the Fed wants to increase the US money supply, it will usually buy US treasury bonds from banks
a. true b. false
Assume there are 2 million adult residents in the Los Angeles area to whom the per-resident PVB would accrue. Also assume that the estimated present value of costs (PVC) for this policy option is $2 billion. (i). Is this option feasible? Why or why not? Show your supporting calculations. (ii). If two other policy options have benefit-cost ratios of 1.23 and 1.05, can you determine which of the three is the most efficient? If so how? If not, why not?
The Los Angeles area has long been plagued by urban smog. Suppose that one of several ozone-reducing policy options is being evaluated by economists using benefit-cost analysis.