Increases in the marginal product of labor result from
A) increasing the usage of all inputs. B) the division of labor and specialization.
C) the use of new technology. D) hiring more efficient workers.
B
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Which of the following is likely to happen to the demand curve for reserves if the federal funds rate increases?
A) The demand curve for reserves will shift to the right. B) The demand curve for reserves will shift to the left. C) There will be an upward movement along the demand curve for reserves. D) There will be a downward movement along the demand curve for reserves.
Savers in the financial system make decisions about how to save their money by following the basic principles of:
A. cost benefit analysis. B. asset valuation. C. risk valuation. D. rate of return on investments.
Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice. 
This game:
A. has no Nash equilibrium. B. is an ultimatum bargaining game. C. is a prisoner's dilemma. D. is not a prisoner's dilemma.
Regarding income distribution and the distribution of wealth
A. wealth is a stock concept and income a flow concept. B. income, a flow, can be viewed as a return on wealth. C. a stock is evaluated at a given moment in time; a flow is evaluated during a period of time. D. All of these are correct.