Refer to the figure above. What is the equilibrium wage rate if the labor demand curve is LD2 and labor supply curve is LS2?
A) $20 B) $30 C) $15 D) $25
C
You might also like to view...
If AC < p where MR = MC
A) firms earn positive profits and new firms will enter. B) firms earn negative profits and existing firms will leave. C) firms earn zero profits and new firms will not enter and no existing firms will leave. D) None of the above.
Monetarists believe that: a. the government should follow a fixed rule to change money supply in response tobusiness cycles
b. the government should not use discretionary monetary policy to achieve its goals ofeconomic growth and low inflation. c. government intervention should be well thought out and should be used only during recessions. d. government intervention in the economy makes business cycles disappear. e. government intervention policies have only long-run effects.
Which of the following factors are likely to lead to an increase in the female/male earnings ratio in the future?
a. As the labor force participation of women increases, their years of work experience will become more similar to men. b. In recent years, a higher proportion of women have been preparing for careers in the professions. c. As the proportion of families headed by a female parent increases, the average hours worked per week of female employees will decline. d. Both a and b are correct.
Planned aggregate expenditure is total:
A. income of households, businesses, governments, and foreigners. B. planned spending on final goods and services. C. value added in the economy. D. revenue from the sale of goods and services.