Which of the following is most likely to increase the market wage rate in a job category?
a. The employer provides a generous pension plan.
b. The work is widely viewed as safe and not stressful.
c. The job is widely viewed as interesting and prestigious.
d. The job requires employees to move from city to city quite often.
D
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Both successful market-processes ?and central planning rely on self-interested behavior.
Answer the following statement true (T) or false (F)
Use the graph above to answer the following question. Suppose that Jim is in casino in Las Vegas and wins a $60,000 jackpot
The staff tells him that he can keep it or play one more game that will allow him to increase his jackpot earnings by an additional $20,000 . The game involves simply flipping a coin. If it turns up heads he earns the extra $20,000 . However, if it turns up tails he loses $20,000 of his $60,000 jackpot. Given the utility function above what is he likely to do and why?
Which explanation for persistent unemployment used by the original Keynesian model is no longer needed in the new Keynesian model?
A) shifting IS curve B) a fixed nominal wage C) aggregate supply curve is a function of the nominal wage D) rigid wages and prices
According to Keynesians, an increase in the money supply will have its greatest impact on GDP when the aggregate demand curve intersects:
A. the vertical portion of the aggregate supply curve. B. the upward sloping portion of the aggregate supply curve. C. the horizontal portion of the aggregate supply curve. D. either the upward sloping or the vertical portions of the aggregate supply curve.