A. Everything else remaining unchanged, if there is no wage rigidity in the market, how will equilibrium employment and wage rate change if there is a leftward shift in the demand curve for labor?
b. Everything else remaining unchanged, if there is no wage rigidity in the market, how will equilibrium employment and wage rate change if there is a rightward shift in the supply curve of labor?
a. Everything else remaining unchanged, and in the absence of wage rigidity, a leftward shift in the demand curve for labor will result in a lower equilibrium wage rate and a lower equilibrium employment level.
b. Everything else unchanged, and in the absence of wage rigidity, a rightward shift in the supply curve of labor will result in a lower equilibrium wage rate and a higher equilibrium employment level.
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The United States can be called a net debtor nation. This means that
A) the value of U.S. assets held abroad is worth less than the value of foreign assets held in the U.S. B) the U.S. government owes more money than it takes in. C) the value of the U.S. currency is less than the value of currencies for our main trading partners. D) the U.S. manufactures more goods abroad than it manufactures domestically.
Table 13.2ABC Bank Balance SheetAssetsLiabilitiesTotal reserves$80,000Transactions accounts$200,000Loans120,000??Refer to Table 13.2. If ABC Bank has a required reserve ratio of 15 percent, it can legally make a onetime maximum loan of
A. $80,000. B. $30,000. C. $40,000. D. $50,000.
If a large group of people are willing to enter the labor market when wages rise, the market labor supply will be highly elastic even if individuals' supply curves are inelastic.
Answer the following statement true (T) or false (F)
What factors explain the high level of level of productivity in the United States?
What will be an ideal response?