A source of economic growth is:
a. unemployment. b. inefficiency.
c. less resources. d. greater entrepreneurship.
d
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The market supply curve for labor is
A) perfectly inelastic if leisure is an inferior good. B) determined by adding up the quantity of labor supplied by each worker at each wage, holding constant all other variables that affect the willingness of workers to supply labor. C) determined by adding up the wages each worker is willing to work for at a given quantity supplied, holding constant all other variables that affect the willingness of workers to supply labor. D) derived from the market supply curve for the output produced with labor.
A Treasury expenditure financed through borrowing from the Federal Reserve will cause the money supply
A) and bank reserves to rise by an equal amount. B) and bank reserves to fall by an equal amount. C) to rise but bank reserves to rise by a greater amount. D) to rise by a greater amount than the rise in bank reserves.
In July 2010, what was the total value of U.S. currency in circulation?
A) $500 million B) $150 billion C) $1080 billion D) $6 trillion
Monetary policy refers to the actions the Federal Reserve takes to manage
A) the money supply and income tax rates to pursue its economic objectives. B) the money supply and interest rates to pursue its economic objectives. C) income tax rates and interest rates to pursue its economic objectives. D) government spending and income tax rates to pursue its economic objectives.