If the federal government decreases its spending and doesn't decrease taxes, the bond supply shifts to the
A) left and the equilibrium interest rate rises.
B) left and the equilibrium interest rate falls.
C) right and the equilibrium interest rate rises.
D) right and the equilibrium interest rate falls.
B
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Which of the following has been the largest contributor to increases in the quantity of labor in the Unites States during the past 50 years?
A) The proportion of women taking paid jobs has increased. B) The proportion of young adults entering college has decreased. C) The proportion of seniors taking early retirement has decreased. D) The proportion of men taking paid jobs has increased. E) None of the above because the quantity of labor has actually decreased.
In a competitive free market:
A) all exchanges take place involuntarily. B) there is only one seller and many buyers. C) the government does not impose price controls. D) there is no provision for the protection of property rights.
If the wage rate is fixed at a certain level, the:
a. labor supply curve is horizontal. b. labor supply is a straight upward sloping line. c. MP must be constant. d. labor supply will increase at an increasing rate. e. labor supply will increase at a decreasing rate.
The theory of comparative advantage suggests that nations should produce a good if they:
a. have the lowest opportunity cost. b. have the lowest wages. c. have the most resources. d. can produce more of the good than any other nation.