The market supply curve for labor curve is upward-sloping because
A. As the wage rises, most workers want to work fewer hours.
B. For most workers, as the wage rises, the preference for leisure time increases.
C. As the wage rises, most workers are willing to work more hours.
D. As the wage falls, most workers want to work more hours.
Answer: C
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Which of the following would shift the LM curve?
A) an increase in the tax rate B) an increase in the real money supply C) a reduction in business confidence D) All of these.
Which of the following would be a debit in the U.S. balance of payments?
a. the purchase of a Japanese car by an American b. the purchase of air service from a U.S. airline by a Japanese traveler c. a short-term loan extended to a Japanese manufacturer by a U.S. bank d. the purchase of U.S. grain by a Japanese bakery
Where there is asymmetric information between buyers and sellers:
A. product shortages will occur at the equilibrium price. B. product surpluses will occur at the equilibrium price. C. markets can produce inefficient outcomes. D. markets will fail due to the "free-rider problem."
"Present value" refers to the:
A. value today of a specific amount of money to be received in the future. B. current value of money held in a bank account. C. amount to which some current amount of money will grow over time. D. interest rate specified when a loan contract is signed.