Refer to the figure above. What is the equilibrium quantity of credit when the credit demand curve is CD2 and the credit supply curve is CS1?
A) $40 B) $50 C) $30 D) $20
A
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Suppose that Mel (who is 27 ) is not working, but looked for a job as recently as 2 months ago. Mel would like a job and he is available for work. He is considered
A) unemployed. B) a member of the labor force and unemployed. C) a member of the labor force, but not unemployed. D) a member of the working-age population E) a marginally attached worker.
A bank is an example of a financial intermediary
a. True b. False Indicate whether the statement is true or false
If a perfectly competitive firm raises its price,
a. the quantity demanded of its good falls because the firm faces a downward- sloping demand curve b. the quantity demanded of its good falls to zero c. new firms will enter, attracted by the higher price d. it loses some of its market share e. other firms in the industry must follow the leader
Marginal revenue is equal to price for a perfectly competitive firm because:
A. total revenue increases by the price of the good when an additional unit is sold. B. total revenue increases by less than the price of the good when an additional unit is sold. C. firms need to lower price to increase the quantity sold. D. firms can increase price and still increase the quantity sold.