A higher nominal money supply is equally demanded, given each level of income, at a ________ interest rate, meaning that the LM curve has shifted to the ________
A) higher, left
B) higher, right
C) lower, left
D) lower, right
D
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If a nation is currently operating at a point inside its production possibilities curve, it
A. can increase the output of one good without decreasing the output of the other good. B. has fully employed resources. C. has no inefficiently employed resources. D. is operating at full potential.
Labor demand is considered a derived demand because producers do not demand labor for itself but only because labor is used to produce output that consumers desire
Indicate whether the statement is true or false
A firm employs 100 workers at a wage rate of $10 per hour, and 50 units of capital at a rate of $21 per hour. The marginal product of labor is 3, and the marginal product of capital is 5. The firm
A) is producing its current output level at the minimum cost. B) could reduce the cost of producing its current output level by employing more capital and less labor. C) could reduce the cost of producing its current output level by employing more labor and less capital. D) could increase its output at no extra cost by employing more capital and less labor. E) Both B and D are true.
A bank's return on assets (ROA) is calculated by dividing:
A. the bank's assets by its net worth. B. the bank's assets less its net profit after taxes by its net worth. C. the bank's net profits after taxes by its assets. D. the bank's net worth by its assets.