The marginal expenditure curve for labor is based on the assumption that
A) the most productive workers are hired first.
B) the wage rate is independent of the quantity of labor employed.
C) the market supply curve for labor is infinitely elastic.
D) all workers are paid the same wage rate.
E) none of the above
D
Economics
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If depository insurance exists, bank managers may make riskier loans than they would have otherwise, which is an example of
A) adverse selection. B) regulatory lag. C) irrational behavior. D) moral hazard.
Economics
When the Fed engages in an open market sale, the money supply ________ and the nominal interest rate ________.
A. decreases; decreases B. increases; increases C. decreases; increases D. increases; decreases
Economics