Movement along a supply curve implies
A) quantity demanded changes as the price changes.
B) supply changes as the price changes.
C) suppliers' plans change when the price changes.
D) all of the above.
C
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The Fed's monetary policy tools
A) have proven to be of little value in helping the Fed to achieve its monetary policy goals. B) have allowed the Fed to achieve its monetary policy goals directly. C) have allowed the Fed to achieve its monetary policy goals indirectly. D) are no longer as effective in achieving its monetary policy goals, due to restrictive legislation passed by Congress in the 1990s.
The idea that having ownership of an item increases the value that a person puts on the item can be explained by
a. The endowment effect b. Loss aversion c. Overconfident bias d. Anchoring bias
In a perfectly competitive market, an increase in output could be caused by
a. decrease in consumer demand b. an unavoidable increase in fixed costs c. higher input prices d. an increase in consumer demand
Which of the following is not an example of a compensating differential? Job A pays more than Job B because Job A requires
a. more international travel to dangerous locations. b. two night shifts per month. c. careful handling of toxic chemicals. d. an advanced degree.