If the price level rises by 5 percent and workers' money wage rates remain constant, firms'
A) quantity of labor demanded will decrease.
B) quantity of labor demanded will increase.
C) supply of jobs will decrease.
D) None of the above answers are correct.
B
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If an individual moves money from currency to a demand deposit account
A) M1 decreases and M2 stays the same. B) M1 stays the same and M2 increases. C) M1 stays the same and M2 stays the same. D) M1 increases and M2 stays the same.
Voters will gather information on voting alternatives: a. when the cost of acquiring such information is exorbitantly high
b. as long as the marginal benefit to them of acquiring additional information exceeds the marginal cost to them. c. as long as the marginal benefit to them of the information is less than the marginal cost to them of gathering the information. d. because the welfare of the community is always perceived to be more important than the welfare of the individual.