Which of the following will increase the wage rate?
A) an increase in the adult population
B) an increase in the retirement age
C) an improvement in technology that increases the marginal product of labor
D) Both answers A and B are correct.
C
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If a $2 billion increase in investment brings about a $5 billion increase in equilibrium expenditure, we know that the multiplier equals
A) 4. B) 3. C) 10. D) 5. E) 2.5.
Applying the analysis from the California test scores to another U.S. state is an example of looking for
A) simultaneous causality bias. B) external validity. C) sample selection bias. D) internal validity.
The idea that expansionary fiscal policy has a positive affect on investment is known as
a. monetary policy. b. crowding out. c. the investment accelerator. d. the multiplier.
The marginal utility of the first cup of coffee that Tom drinks in the morning is worth $2.00. The marginal utility of the 9th cup of coffee he drinks is positive while the marginal utility of the 10th cup of coffee he drinks in the morning is worth $0. This implies that at a price of $0, Tom would drink
A. at most 10 cups of coffee per morning. B. more than 10 cups of coffee per morning, but the actual number is indeterminate from this information. C. an infinite number of cups of coffee each morning. D. zero cups of coffee per morning.