The demand for labor is
A) derived from the demand for the final product of the firm.
B) derived from the satisfaction that hiring labor provides the owner of the firm.
C) derived from the satisfaction workers get for being employed.
D) derived from a utility-maximizing process similar to that used to derive the demand curve for all workers in a given industry.
Answer: A
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The choice between futures and options
A) depends on whether the underlying instrument is a debt instrument or an equity. B) reflects a trade-off between the higher cost of using options and the extra insurance benefits that options provide. C) reflects a trade-off between the higher cost of using futures and the extra insurance benefits that futures provide. D) reflects a trade-off between the greater risk from using options and the extra insurance benefits that options provide.
To maximize its profit, a bank will: a. minimize the number transactions it engages in. b. maximize required reserves
c. minimize excess reserves. d. maximize excess reserves. e. minimize required reserves.
Credit cards are money because they serve the three functions of money
a. True b. False Indicate whether the statement is true or false
When the spending of consumers, businesses, government, and foreigners (net exports) is less than the current level of output, Keynesian analysis indicates that
a. the economy's output will fall short of its potential. b. prices will rise. c. equilibrium real GDP will increase. d. inventories will decline.