Economist Robert Fogel has estimated that by the year 2040, individuals in the United States will be spending
A) more time in the workforce and more time in leisure activities than they do today.
B) less time in the workforce and less time in leisure activities than they do today.
C) more time in the workforce and less time in leisure activities than they do today.
D) less time in the workforce and more time in leisure activities than they do today.
D
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Nike is a firm in monopolistic competition. If Nike is earning an economic profit from new cross-training shoe, over time the demand for these shoes
A) increases as new firms enter the market. B) decreases as new firms enter the market. C) does not change as new firms enter the market. D) decreases as firms exit the market. E) increases as firms exit the market.
Which of the following policy actions by the Fed would cause the money supply to decrease?
a. A decrease in required reserve ratios. b. An open-market purchase of government securities. c. A decrease in the discount rate. d. An increase in the discount rate.