Suppose labor supply can be described as ES = 0.1w ? 1000 where w is yearly salary. How many workers are willing to work when the yearly salary is $20,000?
A. 500
B. 1000
C. 200
D. 2000
E. 100
Answer: B
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The demand for loanable funds curve shifts in response to changes in
A) the amount of household savings. B) the expected future disposable income. C) expected profits. D) the real interest rate. E) wealth.
Suppose demand for a good is QD = 100 - P and supply is QS = -20 + P. What is the equilibrium price?
a. 20 b. 40 c. 60 d. 80
If the graph shown is displaying a competitive labor market:
A. D would represent the workers' demand for jobs at each wage. B. Q* would represent the equilibrium wage. C. P* would represent how many people are employed in the market. D. Q* would represent the equilibrium number of workers in the market.
The housing bubble experienced in 2006 in the U.S. was exhibited by the extraordinary rise in the ratio of prices of houses to rents on houses
a. True b. False Indicate whether the statement is true or false