It is said that a wage increase can have two opposing effects. Which of the following captures these two effects?
a. A backward-bending labor-supply curve
b. A perfectly elastic labor-supply curve
c. A perfectly inelastic labor-supply curve
d. A perfectly elastic labor-demand curve
e. A backward-bending labor-demand curve
a
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In the years after 1998, the most severe recession occurred during
A) 1998. B) 2000-2001. C) 2008-2009. D) 1999-2001. E) 2005.
In the early stages of macroeconomic model building, the money supply is regarded as a policy ________ that is under ________ control by the Federal Reserve
A) goal, perfect B) goal, imperfect C) instrument, perfect D) instrument, imperfect
Bandile gives $100 to his favorite charity. According to economists, why did Bandile mostly likely do this?
a. from disregard for his own self-interests b. for entirely non-personal motives c. to selfishly use the charity as a tax deduction d. to have the satisfaction of helping others
If parity prices are "fair" they will not cause a market surplus.
Answer the following statement true (T) or false (F)