An increase in the interest rate tends to increase the demand for loanable funds
a. True
b. False
B
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Cost-of-living adjustments are
A) changes in the basket of goods used in calculating the CPI. B) automatic wage changes based on the CPI which are included in some union contracts. C) quality measurements included in the calculation of the CPI. D) averages of neighboring years' base prices used in constructing the CPI.
Paul and David work for the same company and have the same job title, education, work experience, and are equally skilled at what they do. Paul works the night shift and is paid $60,000 a year, while David works a regular day shift and is paid $55,000 a year. Which of the following is the best explanation for why Paul earns more than David?
a. Paul has more human capital than David. b. David has more human capital than Paul. c. Paul has received a compensating differential. d. Aside from pay, the night shift is more desirable than the day shift.
Advertisers try to
A. raise the demand for their product and make it more elastic. B. raise the demand for their product and make it less elastic. C. lower the demand for their product and make it more elastic. D. lower the demand for their product and make it less elastic.
When plotted with the aggregate price level on the vertical axis and output on the horizontal axis, the long-run aggregate supply curve
A. slopes upward. B. slopes downward. C. is vertical. D. is horizontal.