The demand for airline pilots results from the demand for air travel. This fact is an example of
A. the derived demand for labor.
B. rising marginal resource cost.
C. resource substitutability.
D. elasticity of resource demand.
Answer: A
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? Refer to Table 4-1. At $4, what is the shortage?
A. 0 B. 1,500 C. 3,000 D. 4,500 E. 6,000
The most liquid securities traded in the capital market are
A) corporate bonds. B) municipal bonds. C) U.S. Treasury bonds. D) mortgage-backed securities.
Hector's wealth is zero, he expects to work for another 45 years at a constant salary of $80,000 and live for another 60 years
Assuming taxes are zero, if Hector receives an unexpected $20,000 increase in salary his first year of work and he completely smooths consumption over his lifetime, his annual consumption is A) $67,500 B) $75,000. C) $80,000. D) $111,111.
A decrease in money supply causes the real interest rate to ________ and output to ________ in the short run, before prices adjust to restore equilibrium.
A. rise; fall B. rise; rise C. fall; fall D. fall; rise