The labor demand curve of a firm:
A. will shift to the left if the price of the product the labor is producing falls.
B. is perfectly elastic if the firm is selling its product in a purely competitive market.
C. reflects a direct relationship between the number of workers hired and the money wage
rate.
D. is the same as its marginal product curve.
Answer: A
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A nation's capital stock was valued at $300 billion at the start of the year and $350 billion at the end. Consumption of private fixed capital in the year was $25 billion. Assuming stable prices, gross investment was ________.
A. $90 billion B. $50 billion C. $75 billion D. $25 billion
All of the following are differences between hedge funds and mutual funds EXCEPT
A) hedge funds are largely unregulated. B) hedge funds consist of a relatively number of wealthy investors. C) hedge funds make risky investments that mutual funds cannot make. D) hedge funds use money collected from savers to make investments.
The market value of a good or service is the:
A. price at which producers are willing to sell an output. B. government's valuation using the CPI. C. price at which it is bought and sold. D. None of these statements is true.
Which of the following is not true about a structural deficit?
A. It exists even if the economy is at full employment. B. It is determined in part by the actions of Congress. C. It definitely gets larger as unemployment increases. D. It is influenced by discretionary fiscal spending.