There is only a small difference in wages between college graduates and workers who did not attend college

If the wage rate is fixed at a certain level, the:

a. total wage cost curve is horizontal. b. total wage cost curve is a straight upward sloping line. c. MP must be constant. d. total wage cost curve will increase at an increasing rate. e. total wage cost curve will increase at a decreasing rate.

The buying and selling of government bonds by the FOMC constitutes:

a. an open market operation. b. a federal funds adjustment. c. a discount rate adjustment. d. a change in the reserve requirement. e. sterilization of the money supply