An increase in the demand for musicians ________ the number of musicians employed, and ________ the wages paid to musicians.
A. increases; increases
B. increases; decreases
C. decreases; increases
D. decreases; decreases
Answer: A
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What is the motivation for individuals to hold money?
A) to facilitate transactions B) to reduce risk C) to have liquidity D) all of the above
Deb and Pete have volunteered to help their favorite charity mail out fundraiser information. The figure above shows their production possibilities frontiers for assembling packets and stuffing envelopes
What is Deb's opportunity cost of assembling 1 packet? A) 4 envelopes B) 4 packets C) 160 envelopes D) 1/4 of an envelope E) 40 envelopes
If domestic savings was 2 billion last year and domestic investment was -12 billion, then the current account balance is
A) 10 billion. B) -10 billion. C) 14 billion. D) -24 billion.
Assume the central bank decides to pursue contractionary monetary policy. Where and how should you begin your analysis when analyzing the chain reaction of economic interactions?
a. Start the analysis in the real goods market with aggregate demand shifting to the right. b. Start the analysis in the real credit market with demand for real credit shifting to the left. c. Start the analysis in the real credit market with demand for real credit shifting to the right. d. Start the analysis in the real credit market with supply of real credit shifting to the left. e. Start the analysis in the real credit market with supply of real credit shifting to the right.