Look at the above figure. A union wishes to maximize wage income for employed union members, so it should aim for a wage rate ________ and a number of employed members equal to ________

A monetary offset occurs when:

A. the central bank responds to expansionary fiscal policy with contractionary monetary policy. B. the central bank responds to expansionary fiscal policy with expansionary monetary policy. C. the central bank responds to contractionary monetary policy with contractionary fiscal policy. D. the central bank responds to expansionary monetary policy with contractionary fiscal policy.

If the price of gasoline fell from $2.95 to $2.85 per gallon, your expenditure on gasoline would increase if your price elasticity of demand for gasoline equals

A) 1.1. B) 1.0. C) 0.9. D) Total revenue would increase at all of the above elasticities.