Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.
Figure 28.1Refer to Figure 28.1. The equilibrium wage rate is $________ and the equilibrium number of people employed is ________ million people.
A. 6; 180
B. 15; 270
C. 15; 150
D. 9; 210
Answer: D
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Assuming a long-run aggregate supply curve, an increase in the money supply results in ________ in output and ________ in price level
A) an increase; no change B) a decrease; no change C) a decrease; a decrease D) no change; an increase
In the long run, a monopolistic competitor: a. earns a normal rate of return
b. sells a level of output at which marginal revenue is less than price. c. sells a level of output at which marginal revenue equals marginal cost. d. is characterized by all of the above.
When aggregate demand shifts right along the short-run aggregate supply curve, unemployment
a. falls, so there are upward pressures on wages and prices. b. falls, so there are downward pressures on wages and prices. c. rises, so there are upward pressures on wages and prices. d. rises, so there are downward pressures on wages and prices.
ADRs that are created at the request of a foreign firm wanting its shares traded in the United States are ________.
A) facilitated B) unfacilitated C) sponsored D) unsponsored