Stock and Watson found that monetary policy was responsible for about ________% of the reduction in output volatility that occurred in the mid-1980s

The quantity of labor demanded by the firm is such that the

A) wage rate equals the marginal cost. B) wage rate equals the value of marginal product of labor. C) wage rate equals the marginal product of labor. D) marginal revenue equals the marginal product.

If a tax shifts the supply curve downward (or to the right), we can infer that the tax was levied on

a. buyers of the good. b. sellers of the good. c. both buyers and sellers of the good. d. We cannot infer anything because the shift described is not consistent with a tax.