The demand curve for labor slopes down because
A) firms value less efficient workers less than they value more efficient workers.
B) firms must lower prices to sell the additional units of its product that the extra workers produce.
C) of the law of diminishing marginal product.
D) of profit maximizing behavior.
Answer: C
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For a given supply curve, the deadweight loss from the imposition of a tax is smaller if demand is more elastic
Indicate whether the statement is true or false
Refer to above Table 2-2. What are the constant-dollar expenditures in years 1 and 2 at fixed year 1 prices?
A) $5.00, $7.80 B) $14.00, $14.60 C) $18.00, $18.60 D) $9.00, $10.80
The quantity of securities held by the Federal Reserve is controlled through:
A. the U.S. Treasury. B. the purchases made by the regional Reserve banks. C. the Fed's annual budget. D. open market operations.
Refer to the information provided in Table 22.5 below to answer the question(s) that follow.
Table 22.5
Refer to Table 22.5. The highest inflation rate is between the years
A. 2015 and 2016. B. 2013 and 2014. C. 2014 and 2015. D. cannot be determined from the given information.