The quantity of labor demanded depends on the
A) money wage rate not the real wage rate.
B) real wage rate not the money wage rate.
C) price of output not the money wage rate nor the real wage rate.
D) money wage rate AND the real wage rate.
B
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A tariff on a particular good does which of the following? a. It increases the net-of-tariff price received by foreign producers
b. It increases the price of the good to domestic consumers. c. It redistributes income away from domestic producers toward domestic consumers. d. none of the above
According to the law of demand, a demand curve
A. Has a negative slope. B. Has a positive slope. C. Exceeds the economy's ability to produce. D. Is a horizontal or flat line.
Assume the graph shown represents the market for pizzas sold in an hour. Which of the following could be a reason S2 to S1?
A. The price of pizza sauce has increased. B. People just don't have preferences for pizza anymore. C. The price of pizza went down. D. The price of labor for pizza shops went down.
The Federal Open Market Committee (FOMC) is made up of:
A. the chair of the Board of Governors along with the 12 presidents of the Federal Reserve Banks. B. the seven members of the Board of Governors along with the president of the New York Federal Reserve Bank. C. the seven members of the Board of Governors of the Federal Reserve System along with the three members of the Council of Economic Advisers. D. the seven members of the Board of Governors of the Federal Reserve System along with the president of the New York Federal Reserve Bank and four other Federal Reserve Bank presidents on a rotating basis.