An individual firm in a competitive labor market faces a(n):
a. horizontal labor supply curve.
b. backward-bending labor supply curve.
c. downward-sloping labor supply curve.
d. upward-sloping labor supply curve.
e. vertical labor supply curve.
a
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In the balance of payments, any transaction that leads to a receipt by a resident of a country is a
A) minus item. B) debit item. C) surplus item. D) deficit item.
If variable cost rises from $60 to $100 as output increases from 15 to 20 units, the marginal cost of the twentieth unit
a. is $100 b. is $5 c. is $40 d. is $8 e. cannot be determined without total cost
Which of the following statements is correct?
a. from the bank's point of view, loans to customers are assets of the bank b. from the bank's point of view, loans to customers are liabilities of the bank c. from the customer's point of view, loans to customers are assets of the customer d. from the customer's point of view, loans to customers are liabilities of the customer e. a and b only f. a and d only Indicate whether the statement is true or false
Price ceilings are adopted in most cases because
A. the government favors a non-intervention policy. B. producers need incentives to produce more of the good or service. C. the government wants to create surpluses. D. the government views the current equilibrium price as too high for consumers.