All of the following are true of the labor-supply and labor-demand curves intersection except they:
A. only intersect once.
B. intersect at the revenue-maximizing quantity for the firms in the market.
C. intersect at the equilibrium wage.
D. intersect at the profit-maximizing quantity for the firms in the market.
Answer: B
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Analyze the following statement: "I know the fact that prices have started to rise rapidly seems like bad news, but at least prices starting to go up means that output must be starting to go up as well."
What will be an ideal response?
If the Fed purchases $50,000 in T-bills from a bank, by how much will the bank's excess reserves increase?
A) by $50,000 B) by $50,000 times the required reserve ratio C) by $50,000 divided by the required reserve ratio D) Not enough information has been provided to answer the question.
The following table shows the aggregate supply and demand data for a country.
What is the equilibrium price level?
a. 200
b. 400
c. 500
d. 800
A "capitalist" is someone who:
A. owns stock. B. opens a retirement account. C. holds a treasury bond. D. All of these statements are true.