If the interest rate increases, the money demand curve
a. shifts to the right.
b. shifts to the left.
c. neither shifts nor changes slope.
d. gets steeper.
e. becomes horizontal.
C
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In the above figure, the curve labeled MCL is the marginal cost of labor curve and is used in a
A) competitive situation in which individual firms cannot influence the wage rate they must pay. B) competitive situation in which skill differentials create a difference between what a firm must pay labor versus the wage at which households are willing to supply labor. C) monopsony situation in which the firm can influence wages by how much labor it hires, so that the wage rate received by workers is less than the marginal cost of labor. D) monopsony situation in which the firm can influence wages by how much labor it hires, so that the wage rate received by workers is greater than the marginal cost of labor.
In the model of monopolistic competition, trade costs between countries cause
A) marginal costs of exported goods to exceed the marginal costs of goods sold domestically. B) marginal costs of goods sold domestically to exceed the marginal costs of exported goods. C) all firms that can earn a profit on domestic sales to export their goods at lower prices. D) all firms that can earn a profit on domestic sales to export their goods at higher prices. E) countries to negotiate the elimination of trade costs by mutual subsidization of trade.
"Discouraged workers" are officially considered ________ the labor force and ________
A) in, unemployed B) in, not unemployed C) not in, unemployed D) not in, not unemployed
A decision at the margin Eleanor is a hard-working college senior. One Thursday, she decides to work nonstop until she has answered 50 practice problems for her economics course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem. Time Total Problems Answered 8:00 AM 0 9:00 AM 20 10:00 AM 35 11:00 AM 45 Noon 50 Use the table to answer the following questions. The marginal, or additional, gain from Eleanor's second hour of work, from 9:00 AM to 10:00 AM, is Points: 1 / 1 The marginal gain from Eleanor's fourth hour of work, from 11:00 AM to noon, is
What will be an ideal response?