If the wage rate in a purely competitive labor market increases, it will cause the:
A. Marginal resource cost curve for a single competitive firm in the industry to shift down
B. Marginal resource cost curve for a single competitive firm in the industry to shift up
C. Labor supply curve for a single competitive firm to shift downward
D. Labor supply curve for the industry to shift rightward
B. Marginal resource cost curve for a single competitive firm in the industry to shift up
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Assume the total real output of a developing country increases from $8 billion to $8.2 billion while its population expands from 14 to 15 million people from one year to the next. Over the year, real GDP per capita has ________.
A. decreased by $25 per person B. increased by $533 per person C. decreased by $533 per person D. increased by $25 per person
Refer to the scenario above. What is the difference between the future value of John's deposit and Wendy's deposit after three years?
A) $56.04 B) $112.26 C) $208.03 D) $439.15
If the pound-dollar exchange rate is 2 pounds per dollar, what is the rate of dollars per pound?
a. 4 dollars/pound b. 2 dollars/pound c. 5 dollars/pound d. 0.50 dollars/pound e. 2.50 dollars/pound
A bank receives a demand deposit of $1,000 . The bank loans out $600 of this deposit and increases its excess reserves by $300 . What is the legal reserve requirement?
a. 10 percent b. 20 percent c. 30 percent d. 60 percent