Other things equal, when the supply of workers is scarce, one would predict that market wages would be
a. relatively high.
b. relatively low.
c. determined solely by factors that affect demand.
d. determined outside the domain of economic theory.
A
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The R2 calculated in a spurious regression is a valid and efficient estimate of the goodness-of-fit of the regression equation.
Answer the following statement true (T) or false (F)
If the United States is a net importer of bananas, free trade will benefit the
A. rich citizens of the Unite States. B. poor citizens of the United States. C. domestic banana consumers. D. domestic banana producers.
If the population increases, the market demand for most products will:
A. not change. B. decrease. C. increase. D. depend on supply.
Other things being equal, if the Fed raises the interest rate paid on excess reserves
A. both the demand for reserves and the supply of reserves in the federal funds market will increase. B. the supply of reserves in the federal funds market will increase. C. the supply of reserves in the federal funds market will decrease. D. both the demand for reserves and the supply of reserves in the federal funds market will decrease.