Figure 36-2
Which of the following explains the movements in Figure 36-2?
A. An increase in the U.S. price level
B. A decrease in the U.S. price level
C. An appreciation of the U.S. dollar
D. An expansionary monetary policy
Answer: B
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Which of the following statements is true?
A) According to the labor supply curve, as the real wage rises, more workers leave the labor force. B) According to the labor supply curve, as the real wage rises, employers are willing to provide fewer jobs. C) According to the labor supply curve, as the real wage rises, workers are willing to provide fewer hours of labor. D) According to the labor supply curve, as the real wage rises, workers are willing to provide more hours of labor. E) According to the labor supply curve, as the real wage rises, employers are willing to provide more jobs.
People are sometimes seen to give up money to make an allocation more fair. What experiment could be used to determine if this is because people truly care about fairness or because people want to avoid the consequences of others' spite?
a. The Ultimatum Game could be run to see if an even split is proposed. b. The Dictator Game could be run to see if an even split is proposed. c. The Battle of the Sexes could be run to see if players choose the rival's preferred outcome. d. The repeated Prisoners Dilemma could be run to see if players can tacitly collude on Silent.