What was(were) the effect(s) of the Enron Bankruptcy in late 2001 and other corporate scandals in 2002?
A) An ensuing lack of confidence in financial accounting.
B) The value of corporate bonds declined.
C) It became more expensive for firms to finance their investments.
D) all of the above
E) none of the above
D
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At low wages, the labor supply curve for most people slopes upward because
A) the demand for labor is perfectly elastic at low wages. B) as wages increase the opportunity cost of leisure increases. C) as wages increase income also increases unless hours worked decrease. D) the supply of labor is perfectly inelastic at low wages.
A decrease in the unemployment rate which is accompanied by an decrease in the inflation rate is represented by a ________ the Phillips curve
A) movement down B) movement up C) upward shift of D) downward shift of