Jacob is torn between two jobs, grounds keeper and street repair. He is indifferent between the two jobs even though the street repair job pays $25 more per hour. This must mean that
a. grounds keeper is a less attractive job
b. grounds keeper enjoys a compensating wage differential of $25
c. the demand for street repairmen is greater
d. street repair enjoys a compensating wage differential of $25
e. the demand for grounds keepers is greater
D
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Ways to "game" the budgeting process include
a. accelerating sales if just short of a target b. accelerating expenses if just short of a target c. accelerating sales once a target is met d. delaying expenses costs once a target is met
Increasing foreign trade has reduced income inequality because the market expansion effect increases the work opportunities and wages of low-skilled workers.
Answer the following statement true (T) or false (F)
The actual money multiplier multiplied by the change in total reserves is the
A. discount rate. B. actual change in the money supply. C. federal funds rate. D. potential money multiplier.
Market failure occurs in natural monopolies because
A. Consumers are not willing to pay the price that the monopolist charges. B. The monopolist fails to maximize profits. C. The monopolist charges a price lower than marginal cost. D. Consumers get inaccurate information about the opportunity cost of the product.