When the wage falls:
A. all workers will work more hours.
B. all workers will work fewer hours.
C. some workers will work more hours and some workers will work fewer hours, but on average, hours worked will fall.
D. some workers will work more hours and some workers will work fewer hours, but we don't know whether average hours will increase or decrease.
Answer: D
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Based on this figure, if the krone exchange rate is fixed at $0.15 dollars per krone, then the krone is: 
A. overvalued B. undervalued C. devalued D. revalued
The monopolist is a
A) price taker who tries to find the profit-maximizing rate of output. B) price taker who tries to find the profit-maximizing price. C) price searcher who tries to find the profit-maximizing price-output combination. D) price searcher who tries to find the rate of output that maximizes price.
A technological improvement in producing good A would be a shift in the:
a. supply curve for A to the right. b. supply curve for A to the left. c. demand curve for A to the right. d. demand curve for A to the left.
For a given technology and a given labor force, labor productivity will be ____ when the capital stock is ____.
A. higher; larger B. lower; larger C. lower; unchanged D. higher; smaller