An increase in the cost of acquiring human capital will shift the labor supply curve to the left; eventually, this will tend to increase the equilibrium wage rate
a. True
b. False
A
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Jim has the following assets and liabilities:Credit Card balance$2,000Cash$500Government bonds$2,000Checking$750Car loan balance$5,000Car$15,000Which of the following actions would increase Jim's money demand by $200?
A. Jim pays $200 cash for a new lamp. B. Jim gets a $200 cash advance on his credit card and puts the proceeds in his checking account. C. Jim writes a check for $200 to pay down his credit card balance. D. Jim writes a check for $200 to pay down her car loan balance.
If the economy of Gwondanaland is growing more rapidly than the economy of Japan, most likely
A. Japan has more current investment than Gwondanaland. B. Japan has more government spending than Gwondanaland. C. Japan spends more on capital goods than Gwondanaland. D. Gwondanaland has lower current consumption than Japan. E. Gwondanaland has lower current investment than Japan.
For a perfectly competitive firm, the short-run supply curve has an output level that is
A. determined by the lowest point on the average total cost curve. B. determined by the point at which marginal cost equals marginal revenue. C. determined by the lowest point on the average variable cost curve. D. determined by the point at which average variable cost intersects the average total cost curve.
Economists normally assume that the goal of a firm is to: a. sell as many units of output as possible
b. maximize profits. c. sell products at the highest prices possible. d. maximize sales revenue.