The benefit to the firm of hiring another worker is
A) the nominal wage.
B) the price level.
C) the real wage.
D) the extra output produced by the worker.
E) measured as the height of the production function.
D
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The purchasing power of money increases as the
A) production increases. B) price level falls. C) demand increases. D) unemployment decreases.
Laws in some countries require bystanders to come to the aid of people in mortal danger. This legal obligation is called
A) compulsory volunteerism. B) judicial discretion. C) the duty to rescue. D) eminent domain.
Which of the following statements about the supply of dollars in the foreign exchange market is true?
A) It is equal to the money supply. B) It represents the demand for U.S. goods and financial assets by firms and households outside the United States. C) It represents the supply of U.S. goods and financial assets by firms and households within the United States. D) It is determined by the willingness of households and firms that own dollars to exchange them for foreign currency.
Analysis indicates that the economy is in a recessionary gap. Which of the following is the most appropriate policy mix in this situation?
a. a budget surplus and expansionary monetary policy b. a budget deficit and expansionary monetary policy c. a budget deficit and contractionary monetary policy d. a budget surplus and contractionary monetary policy