Refer to the information provided in Figure 26.4 below to answer the question(s) that follow.
Figure 26.4Refer to Figure 26.4. During the 1990s, many firms in the United States were investing in new capital. If the economy was originally at Point A, this would have caused a movement to Point
A. E.
B. B.
C. C.
D. D.
Answer: D
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An increase in the price of a firm's output
A) raises the value of marginal product of each unit of labor. B) shifts the firm's demand for labor curve rightward. C) results in the firm increasing the amount of output it produces. D) All of the above answers are correct.
Under the expectations theory if market participants expect that future short-term rates will be higher than current short-term rates, the yield curve will
A) slope upward. B) slope downward. C) be flat. D) slope upward, slope downward, or be flat, depending on risk, liquidity, cost of information, and tax considerations.
Your friend Diana tells you that she thinks that her favorite softball team has a 70% chance of winning the next game because that is exactly the winning rate of her team in the last two seasons. This is an example of a(n)
A) objective probability. B) subjective probability. C) risk-averse statement. D) Friedman-Savage preference.
What Supreme Court case ruled separate education for blacks and whites was constitutional provided that it was equal?
a. Plessy vs. Ferguson b. Munn vs. Illinois c. The Dred Scott Case d. Brown vs. Board of Education