Based on the graph showing the effects of a government budget surplus, a budget surplus would ______.
a. increase the demand curve for loanable funds
b. decrease the demand curve for loanable funds
c. increase the supply curve for loanable funds
d. decrease the supply curve for loanable funds
c. increase the supply curve for loanable funds
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The unemployment rate reported by the Bureau of Labor Statistics includes all of the following type of unemployment with the exception of
A) frictional unemployment. B) structural unemployment. C) hidden unemployment. D) cyclical unemployment.
When one player has to make a decision before the other player, the situation is called a:
A. simultaneous game. B. sequential game. C. prisoner's dilemma. D. commitment game.
Suppose Island Bikes, a profit-maximizing firm, is the only bike rental company in a small resort town. The marginal cost to Island Bikes of renting out a bike is $3, and Island Bikes has no fixed costs. Each day Island Bikes has six potential customers, whose reservations prices are listed in the table. CustomerReservation Price($/Rental)A22B16C12D8E6F4Suppose Island Bikes knows that customers whose reservation prices are at least $10 always rent bikes before noon, while those whose reservation prices are below $10 never do so. If Island Bikes charges a different price in the morning and in the afternoon, then what will be the total economic surplus?
A. $9 B. $3 C. $41 D. $49
Proponents of the minimum wage implicitly assume that the ________ if they discount the unemployment effects of the policy.
A. demand curve for unskilled workers is inelastic B. supply curve for unskilled workers is inelastic C. supply curve for unskilled workers is highly elastic D. demand curve for unskilled workers is highly elastic