A single firm in a competitive labor market has a labor supply curve that is
A) upward sloping.
B) perfectly inelastic.
C) perfectly elastic.
D) downward sloping.
C
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
The internet has changed how people shop for clothes, electronics, and other goods. Because of online shopping, many retailers have closed or shut down. How has this affected goods like clothes?
A. The supply of goods like clothes will decrease. B. The demand for goods like clothes will increase. C. The supply of goods like clothes will increase. D. The demand for goods like clothes will decrease.
You notice that when interest rates increases, new residential housing prices tend to decrease. This observation indicates that
A) there must be false causality between interest rates and housing prices. B) higher interest rates must cause low housing prices. C) a scatter diagram between interest rates and housing prices will show a negative relationshi
Exemptions are more desirable than deductions for a person in the 36% tax bracket.
A. True B. False C. Uncertain