The supply curve of labor for any particular occupation is upward sloping because
A. higher wages usually imply higher education and training requirements for the job.
B. all supply curves are upward sloping.
C. a higher wage is necessary to attract more people into that occupation from other occupations.
D. working conditions are more important than wages in a person's choice of occupation.
C. a higher wage is necessary to attract more people into that occupation from other occupations.
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In the loanable funds market, a shortage of loanable funds occurs when the
A) supply of loanable funds exceeds demand for loanable funds. B) quantity of loanable funds supplied exceeds the quantity of loanable funds demanded. C) demand for loanable funds exceeds supply of loanable funds. D) supply of loanable funds curve shifts rightward. E) quantity of loanable funds demanded exceeds the quantity of loanable funds supplied.
Assume the market for a good produced by perfectly competitive firms is currently in equilibrium (economic profit = 0). Now assume there is a decrease in market demand for the good
Analyze the short-run effects of the decrease in demand on equilibrium market price and output. What has happened to the profits of each of the firms in the industry? Over time, what will happen to the number of firms in the industry? Why?
The notion of a tit-for-tat strategy applies to a prisoners' dilemma game that is played repeatedly, but it does not apply if the game is played only once
a. True b. False Indicate whether the statement is true or false
Reasons for the ECB acceding to a bailout of troubled financial sectors in Eurozone nations include all the following, EXCEPT:
A) the desire to recognize bad loans by writing them off to protect the fragile fiscal situation of the troubled nations. B) the desire to prevent a loss of confidence in euro-denominated debt. C) a desire to protect core EU banks. D) a desire to protect the collateral assets in the ECB portfolio.