Which of the following is likely to cause a rise in the wage rate and a decrease in the number of workers hired in a garage?
A) The shutdown of a nearby garage
B) A decrease in the price of the services provided by the garage
C) An increase in the price of the services provided by the garage
D) The opening of a new garage nearby that offers higher wages to its workers
D
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The deposit expansion multiplier is decreased if the Federal Reserve
A) buys government securities. B) sells government securities. C) lowers reserve requirements. D) raises reserve requirements.
This table shows the different combinations of goods that Jack can consume, given that his income to spend on these two items is $10.
Considering the information in the table shown, if we assume Jack is a rational utility maximizer, then we can predict he will buy which bundle with his $10?
A. A
B. B
C. C
D. D
Bans are applied to:
A. common-resource problems. B. reduce the inefficiency created by overuse. C. situations where the optimal quantity of consumption is zero. D. All of these statements are true.
Which of the following is true of markets? a. Markets help to acquire a specialized set of skills and use the pay to buy goods and services
b. Markets allow consumers to consume only those goods they can produce. c. Markets are based on reciprocity and require a mutual coincidence of wants between traders. d. A market is a cashless economic system in which services and goods are traded at negotiated rates.