A 14-day training and workshop initiative undertaken by a manufacturing firm improves the productivity of its workers and increases its monthly production. This results in a(n):
a. upward movement along the demand for labor curve.
b. rightward shift of the demand for labor curve
c. leftward shift of the demand for labor curve.
d. downward movement along the demand for labor curve.
b
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Define free markets. Does a perfectly competitive market qualify as a free market?
What will be an ideal response?
The money supply curve is vertical if
A) the Fed is able to completely determine the money supply. B) banks and households determine the money supply. C) banks and the Fed jointly determine the money supply. D) households and the Fed jointly determine the money supply.
One example of qualitative easing, or unconventional monetary policy, is a purchase by the Fed of Treasury bonds
a. True b. False Indicate whether the statement is true or false
Fred has already paid $50 for a ticket to a football game that is sold out. Paul has offered Fred $120 for his ticket. That is the highest offer Fred has received for the ticket. Assume the value of Fred's time given up to go the game is $0. What is the opportunity cost of going to the game for Fred?
a) $170 b) $120 c) $70 d) $50 e) $0