In the months of November and December, people in the United States hold a larger part of their money in the form of currency because they intend to shop and travel for the holidays. As a result, other things the same, the money supply increases

Which of the following factors has significantly increased the supply of labor in the United States since 1950?

A) an increase in the number of people who have received college degrees B) an increase in the labor force participation rate of women C) a large increase in the substitution effect as a result of higher wages D) a low birth rate and an aging population

Coal and iron ore are complements in the manufacture of steel. An increase in the price of coal would lead to

A) an increase in the demand for iron ore as producers substitute more iron ore for coal in the production process. B) a decrease in the demand for iron ore as steel manufacturers reduce production of steel. C) an increase in the supply of iron ore as iron ore producers see an opportunity to expand their markets. D) no change in the demand for iron ore since the steel makers must use both iron ore and coal if they are to make steel.