The wages of house painters will tend to rise when
a. more people recognize that house painters have very low incomes.
b. the alternative earning opportunities of house painters improve.
c. house painters can no longer find good paying alternatives for their labor.
d. unemployment in the economy is high and there are few alternative jobs available for house painters.
B
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According to the classical model, both prices and nominal income would double if the quantity of money
a) doubled. b) remained constant. c) tripled. d) halved.
Legislators facing a close electoral contest will tend to favor
A) policies with benefits greater than costs for everyone. B) policies with benefits greater than costs for the majority. C) policies with benefits in the near future and deferred costs. D) policies representing the public interest.