Refer to Scenario 14.4. Suppose that the price of the product rises to $5, the number of workers hired
A) will decrease.
B) will increase.
C) will not change.
D) cannot be determined without knowing the wage rate.
B
Economics
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The monetary base does NOT include which of the following items?
i. Federal Reserve notes ii. banks' reserves at the Federal Reserve iii. U.S. government securities owned by the Federal Reserve A) i only B) ii only C) iii only D) both i and ii E) both ii and iii
Economics
Suppose the marginal cost of producing a good falls so that the marginal social cost curve shifts downward. Then the efficient quantity to produce of that product
A) increases. B) does not change. C) decreases. D) could increase, stay the same, or decrease.
Economics