Which of the following will increase the wage rate?
A) an increase in the adult population
B) an increase in the retirement age
C) an improvement in technology that increases the marginal product of labor
D) Both answers A and B are correct.
C
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According to Keynes, a shift in liquidity preference is
a. a shift in the money demand schedule drawn against the interest rate as the level of income changes. b. a change in the amount of money demanded for given levels of the interest rate and income. c. a shift in individuals' portfolios away from bonds and toward holding an increased amount of money for given levels of the interest rate and income. d. Either a or c e. all of the above
A _____ is a function that takes on a defined value for every point in the sample space
a. discrete variable b. random variable c. dependent variable d. continuous variable