Suppose the market for pizza makers is initially in equilibrium, but then the equilibrium wage rate and the equilibrium quantity of labor both increased. What happened in the market for pizza makers?
A) The demand for pizza makers increased.
B) The demand for pizza makers decreased.
C) The supply for pizza makers increased.
D) The supply for pizza makers decreased.
Answer: A) The demand for pizza makers increased.
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Exogenous changes in spending refer to changes in planned spending:
A. caused by changes in output. B. caused by changes in the inflation rate. C. not caused by changes in output or changes in the inflation rate. D. caused by changes in the real interest rate.
Equilibrium price and quantity are determined by the intersection of the demand and supply curves.
Answer the following statement true (T) or false (F)
Households receive transfers from ________, and firms receive transfers from ________
A) firms; households B) government; government and households C) government; no one D) firms and government; government E) government; government
The currency or money of the United States, like those of other countries, is:
A. Commodity money B. Intrinsic money C. Token money D. Deposit money