The demand curve for labor shows the ________ of labor employers wish to hire at any given salary or wage rate, under the ceteris paribus assumption.
a. quality
b. frequency
c. quantity
d. type
c. quantity
The demand curve for labor shows the quantity of labor employers wish to hire at any given salary or
wage rate, under the ceteris paribus assumption.
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Would the Waxman-Markey law achieve production efficiency?
What will be an ideal response?
In a market economy, uncertain levels of inflation
A) make prices less useful as signals for resource allocation. B) prompt firms to enter into fewer short-term contracts, and more long-term contracts, with suppliers. C) balance out income redistribution in the long run. D) are more beneficial to lenders than to borrowers, as lenders have a tendency to overestimate the expected inflation rate.
A bank's assets consist of $1,000,000 in total reserves, $2,100,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $3,000,000 in demand deposits and $1,300,000 in capital. If the required reserve ratio is 20 percent, what is the level of the bank's excess reserves? How much money could the excess reserves be used to create in the banking system as a result?
a. $600,000; $600,000 b. $600,000; $3,000,000 c. $400,000; $400,000 d. $400,000; $2,000,000
An efficient economy
a. is a fair economy b. can only be a capitalist economy c. is not necessarily a fair economy d. would never experience air or water pollution e. would not have a government sector