Restaurants like to give away free salty peanuts while you wait for your food in order to encourage you to
A. Buy more beverages.
B. buy more peanuts at the souvenir shop.
C. Buy expensive salty food on the menu.
D. None of the choices are correct.
Answer: A
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An increase in the demand for labor means that
A) the demand for labor increases as a result of an increase in the real wage rate. B) the demand for labor increases at any real wage rate. C) the supply of labor must also be increasing. D) the demand for labor increases as a result of a decrease in the real wage rate.
When several hurricanes hit Florida in 2004, a number of local governments imposed price controls that prevented sellers from raising their prices for badly needed products like plywood and generators. In the areas where the controls were imposed, they resulted in
a. an expanded availability of these badly needed products. b. a reduced availability of these badly needed products. c. an increase in the speed with which people recovered from the hurricanes. d. a more efficient allocation of these goods for which price controls were in effect.
Which statement is false?
A. Most savings and loan associations were locked into low-interest-rate mortgages in the 1950s and 1960s. B. To get a bank charter, you need to demonstrate that your community needs a bank or an additional bank. C. Nearly all banks today are regulated by both the Federal Reserve and the FDIC. D. The FDIC would rather pay off depositors than be forced to find another bank to take over a failing institution. E. Money is created when someone takes out a bank loan.
The market demand curve
A. is the vertical summation of the demand curves of all the consumers in the market. B. shows how much all consumers demand at various prices. C. is quite complex to construct, given the demand curves of the individual consumers. D. all of the above