As opposed to general-equilibrium analysis, partial equilibrium analysis looks
A) at an equilibrium and changes to it in a single, isolated market.
B) at how changes in one market effect other markets.
C) at how equilibrium is determined in all markets simultaneously.
D) at either price or quantity movements.
A
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An increase in the nominal interest rate
A) shifts the demand for money curve rightward. B) shifts the demand for money curve leftward. C) leads to an upward movement along the demand for money curve. D) leads to a downward movement along the demand for money curve.
The benefit to employers of deferred-payments is that
A) adverse selection is eliminated. B) employers cannot engage in any opportunistic behavior. C) these payments raise the cost of being fired, so more monitoring is needed. D) these payments raise the cost of being fired, so less monitoring is needed.