The demand curve for labor slopes downward because
a. few workers work at low wages.
b. capital has been substituted for labor in most industries.
c. of the diminishing marginal product of labor.
d. All of the above are true.
c
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Interest income minus interest expenses divided by assets is a measure of bank performance known as the
A) operating income. B) net interest margin. C) return on assets. D) return on equity.
Proponents of a balanced budget amendment argue that the private advantages that each of us realizes from spending on our government programs are paid for almost entirely by other taxpayers
a. True b. False Indicate whether the statement is true or false
China began pegging its currency, the yuan, to the U.S. dollar in 1994. Because the yuan has been ________ at the pegged exchange rate, the Chinese government ________ its reserves of U.S. dollars as the government purchased more ________ to maintain the pegged exchange rate.
A) undervalued; increased; dollars B) undervalued; decreased; yuan C) overvalued; decreased; yuan D) overvalued; increased; yuan
Suppose that output in an economy is 1,000 units and the number of hours worked in the economy is 40. If the economy enters a recession, which of the following combinations of output and hours worked would best reflect the recession?
A. 800 units of output and 30 hours worked B. 1,000 units of output and 40 hours worked C. 500 units of output and 20 hours worked D. 600 units of output and 25 hours worked