Menu costs help explain
a. sticky-price theory.
b. misperceptions theory.
c. sticky-wage theory.
d. All of the above are correct.
a
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A government wants to establish a minimum wage for workers to raise the standard of living for a large segment of the population. Where should the government set the minimum wage relative to W E ?
a. above W E
b. below W E
c. equal to W E
d. W E is irrelevant.
In general, the duration of job search will be shorter if
A. less job-market information is available. B. it is more costly to obtain job-search information. C. there are fewer employment agencies. D. unemployment compensation benefits decrease.
For economic analysis, the short run is considered less than one year.
Answer the following statement true (T) or false (F)
The bond supply curve is ________ sloping, indicating a(n) ________ relationship between the price and quantity supplied of bonds, everything else equal
A) downward; inverse B) downward; direct C) upward; inverse D) upward; direct