In recent years, the Federal Reserve has conducted policy by setting a target for
a. bank reserves.
b. the monetary growth rate.
c. the exchange rate.
d. the federal funds rate.
d
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An employer faces a higher minimum wage control where it cannot pay its workers any less than $10.25 an hour. The employer may react by
a. Doing nothing-it cannot violate the regulation b. Offering the employees fewer fringe benefits c. Increasing spending on workplace amenities d. Hiring additional workers
When a minimum-wage law forces the wage to remain above the equilibrium level, it
a. raises both the quantity of labor supplied and the quantity of labor demanded compared to the equilibrium level. b. raises the quantity of labor supplied and reduces the quantity of labor demanded compared to the equilibrium level. c. reduces the quantity of labor supplied and raises the quantity of labor demanded compared to the equilibrium level. d. reduces both the quantity of labor supplied and the quantity of labor demanded compared to the equilibrium level.
For every choice a person makes it can be assumed that
A. some opportunity cost was involved. B. a good is involved and satisfaction is gained. C. the chooser has full knowledge of the situation. D. there is a fifty-fifty chance the choice was the wrong one.
Velocity is not constant if
A. the money supply does not depend on the interest rate. B. the demand for money depends on the interest rate. C. the supply of money depends on the interest rate. D. the price level increases as aggregate output increases.