A graph shows the wage rate of factory workers. The slope of the line is positive for periods when the wage rate is
A) low and falling.
B) high and not changing.
C) rising.
D) high and falling.
E) falling.
C
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If employers were required by law to increase the wages paid to secretaries by 40 percent, which consequence could we most confidently predict?
A) More secretaries would be employed. B) Secretaries would begin to earn more than they are worth to their employers. C) The marginal value of secretaries would increase by about 40 percent. D) The total amount of wages paid to secretaries would decrease. E) The total amount of wages paid to secretaries would increase.
Suppose the Fed conducts an open market sale of $50 million in government securities. If the required reserve ratio is 20%, what is the maximum change in the money supply? Assume that banks try not to hold excess reserves and there is no currency withdrawal from the banking system.
A) maximum increase in money supply = $250 million B) maximum decrease in money supply = $250 million C) maximum increase in money supply = $50 million D) maximum decrease in money supply = $50 million