________ when its inventory increases
A) A firm's total product curve is likely to shift upward
B) A firm's labor demand curve is likely to shift to the left
C) A firm's cost curve is likely to shift downward
D) A firm's labor demand curve is likely to shift to the right
B
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Consider the usual case where a higher wage rate increases firms' marginal costs. In this case, the industry's demand curve for labor
a. is more inelastic than the individual firms' demand curves would indicate. b. coincides with the horizontal sum of individual firms' demand curves. c. contains only substitution effects but no scale effects. d. is horizontal at the going market wage.
The present value of a payment to be made in the future falls as
a. the interest rate rises and the time until the payment is made increases. b. the interest rate rises and the time until the payment is made decreases. c. the interest rate falls and the time until the payment is made increases. d. the interest rate falls and the time until the payment is made decreases.
Which of the following is an important advantage of discretionary monetary policy?
a. Influencing the political business cycle b. Flexibility to deal with changing economic conditions c. Limiting the opportunities for abuse of power by policymakers d. Avoiding the time inconsistency of policy problem
What are options for monetary easing using interest rate policy instruments when the rate has hit the zero lower bound?
a. At that point, interest rate policy cannot be used. b. Monetary easing can still occur whenever interest rates are greater than zero at the retail level. c. The central bank can increase the money supply, and interest rates can be less than zero. d. Borrowing can be stimulated in ways other than lower rates of interest.