Refer to the figure above. What is the equilibrium quantity of credit when the credit demand curve is CD1 and the credit supply curve is CS1?
A) $50 B) $20 C) $40 D) $30
D
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In the above figure, by increasing its output from Q2 to Q3, the firm
A) reduces its marginal revenue. B) increases its marginal revenue. C) decreases its profit. D) increases its profit.
GDP is a measure of the total output of an economy
a. True b. False Indicate whether the statement is true or false
The short-run labor demand curve is:
A. more elastic than the long-run labor demand curve. B. less elastic than the long-run labor demand curve. C. either more or less elastic than the long-run labor demand curve. D. perfectly elastic (horizontal).
All of the following statements are true except
A. the minimum wage is one strategy used to reduce wage inequality. B. in the United States, the minimum wage was first nationally adopted in 1894. C. the minimum wage is the lowest wage firms can legally pay their workers. D. the first minimum wage law was adopted in New Zealand.