If a firm refuses to hire any females due to a personal prejudice, its profits will
a. increase markedly.
b. decrease.
c. not be affected.
d. increase slightly.
B
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A shift away from expenditures on domestic goods and a shift toward expenditures on foreign goods when the domestic price level increases is known as
A) the interest rate effect. B) demand side inflation. C) the real-balance effect. D) the open economy effect.
If the Federal Reserve purchases newly issued government bonds, the government is said to be
A) borrowing from the public. B) monetizing the deficit. C) borrowing from itself. D) fiscalizing the deficit.
The figure above shows Kaley's marginal benefit from swimming with manatees and Scott's marginal cost of providing manatee swimming tours. For Kaley and Scott, allocative efficiency is achieved at what point?
A) A B) B C) C D) D E) Either point A or point D
Which of the following is correct according to the long-run Phillips curve?
a. No government policy, including changes in the money supply growth rate, can change the natural rate of unemployment. b. Changes in the money supply growth rate are the only means by which government policy can change the natural rate of unemployment. c. Monetary policy cannot change the natural rate of unemployment, but other government policies can. d. Monetary policy and other government policies can shift the long-run Phillips curve.