People who can earn higher market wages, other things constant, will
a. provide more labor to nonmarket work
b. be more inclined to supply their labor to market work than to nonmarket work
c. be more inclined to supply their labor to nonmarket work than to market work
d. provide more labor to nonmarket work even if the market can provide the services more cheaply
e. provide less labor to market work and more labor to nonmarket work
B
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According to the Hotelling Principle, the price of a nonrenewable resource is expected to
A) rise at a rate higher than the interest rate. B) rise at a rate lower than the interest rate. C) rise at a rate equal to the interest rate. D) fall at a rate equal to the interest rate.
In the 1980s, tax rates were cut, government revenues fell below expectations, and there was a then-historic peacetime deficit
a. True b. False Indicate whether the statement is true or false
Outline the purpose of antitrust laws. What do they accomplish?
The reserve ratio is 20 percent. The Fed buys $1 million in government securities from a bond dealer by transmitting the funds to the dealer's deposit account at Bank A. Bank A makes the maximum loan possible to a construction company, which buys materials with the loan. The check is deposited in Bank B, which loans out all it can to a car dealership. To this point, the money supply has increased by
A. $3 million. B. $1 million. C. $1.8 million. D. $2.44 million.