The price effect describes the:
A. decrease in the quantity of labor supplied in response to a higher wage.
B. increase in the quantity of labor supplied in response to a lower wage.
C. increase in the quantity of labor supplied in response to a higher wage.
D. increase in the quantity of labor demanded in respond to a higher wage.
C. increase in the quantity of labor supplied in response to a higher wage.
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If banks are fully loaned up, have no excess reserves, and the required reserve ratio is raised, the amount that banks can lend is:
a. reduced and the money supply contracts. b. reduced and the money supply expands. c. reduced and there is no change in the money supply. d. increased and the money supply expands. e. increased and the money supply contracts.
Which of the following is in charge of U.S. aid to foreign countries?
a. Agency for International Development (AID). b. World Bank. c. International Monetary Fund (IMF). d. New International Economic Order (NIEO).