When the price level falls, the total quantities of goods and services demanded:
A. decrease.
B. stay the same.
C. increase.
D. increases and then decreases.
Answer: C
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The short-run demand curve for labor for a firm in any type of market for its output coincides with
a. the upward sloping portion of the marginal revenue product curve. b. the downward sloping portion of the marginal revenue product curve. c. the downward sloping portion of the marginal product curve. d. the marginal labor cost curve.
The short-run Phillips curve is ________ than the long-run Phillips curve
A) flatter B) steeper C) less stable D) Both B and C are correct.
Large-denomination CDs are ________, so that like a bond they can be resold in a ________ market before they mature
A) nonnegotiable; secondary B) nonnegotiable; primary C) negotiable; secondary D) negotiable; primary
Which of the following is the most likely effect of minimum wage laws?
a. increase in the quantity of labor supplied by workers b. decrease in the quantity of labor supplied by workers c. increase in the quantity of labor demanded by firms d. decrease in unemployment e. a shift to the left of the demand curve for labor