Harry owns a barber shop and charges $6 per haircut. By hiring one barber at $10 per hour, the shop can provide 24 haircuts per 8-hour day. By hiring a second barber at the same wage rate, the shop can now provide a total of 42 haircuts per day. The MRP of the second barber is

What is the policy used most by the Fed to change the money supply?

(A) Changes in the money creation policy. (B) Changes in the discount rate. (C) Open market operations. (D) Changes in the reserve requirements.

The windfall profits tax on oil will curtail oil production if

a. oil executives decide to be spiteful. b. the demand for oil is inelastic. c. the supply curve for oil is upward sloping. d. the supply curve for oil is vertical.