The higher wage rate received by garbage collectors to compensate for the lower desirability of their job
a. would not exist in a competitive labor market
b. is a compensating wage differential
c. is caused by union negotiators
d. disappears in the long run
e. only applies when the garbage collecting market is an oligopoly
B
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The above table has the balance of the University National Bank. All figures are in millions of dollars. The desired reserve ratio is 20 percent. What would be the total increase in loans at this bank if all excess reserves were loaned out?
A) $528 million B) $352 million C) $232 million D) $0
Explain how a decrease in housing prices may reduce the wealth of some while increasing the wealth of others. What effect would this have on aggregate consumption?
What will be an ideal response?
Inventories help manufacturers cope with unexpected changes in the supply of their resources or in the demand for their products
a. True b. False Indicate whether the statement is true or false
Economic growth
a. involves both benefits and costs b. is beneficial to the economy only if it arises from population growth c. is beneficial to the economy only if it arises from technological change d. involves costs that usually outweigh the benefits e. imposes costs because it requires a movement along the production possibilities frontier