An increase in wages will shift the supply curve up and to the left.
Answer the following statement true (T) or false (F)
True
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Which of the following is true?
a. The majority of millionaires received most of their wealth through an inheritance. b. The percentage of the population that are millionaires in inflation-adjusted dollars has been stable since the 1970s. c. About one-third of millionaires have college degrees. d. More than 75 percent of American millionaires have college degrees.
Figure 30-3. On the graph, MS represents the money supply and MD represents money demand. The usual quantities are measured along the axes.
Which of the following is associated with macroeconomics?
A. An examination of the incomes of Harvard Business School graduates. B. An empirical investigation of the general price level and unemployment rates since 1990. C. A study of the trend of pecan prices since the Second World War. D. A case study of pricing and production in the textbook industry.
For every choice a person makes it can be assumed that
A. some opportunity cost was involved. B. a good is involved and satisfaction is gained. C. the chooser has full knowledge of the situation. D. there is a fifty-fifty chance the choice was the wrong one.