In Figure 17.3, an increase in the supply of labor will cause the equilibrium:
A. wage and hours of labor used to increase.
B. wage and hours of labor used to decrease.
C. wage to increase and hours of labor used to decrease.
D. wage to decrease and hours of labor used to increase.
Answer: D
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Changes in taxes and spending by the executive and legislative branches of a country's government that can be used to either stimulate or restrain the economy are called:
A) monetary policy. B) fiscal policy. C) foreign policy. D) exchange rate policy.
The U.S. central bank ________
A) usually raises taxes to stabilize a slowing economy B) encourages higher savings rates by raising the national sales tax C) is known as the Federal Reserve D) all of the above E) none of the above
The predominate organizational form for U.S. hospitals is not-for-profit. Why?
a. The profit motive corrupts human behavior. b. For-profit hospitals do not provide charity care. c. Private not-for-profit hospitals engage in most of the medical research. d. The not-for-profit form provides the most benefits to physicians. e. All of the above.
Rational people having preferences for immediate benefits and delayed costs is another way of saying that:
A. money is worth less to us now than in the future. B. the value of money does not change over time. C. money is worth more to us now than in the future. D. rational people have insatiable wants.