Consider a labor market that is initially in equilibrium. When the labor demand curve shifts to the left while the labor supply curve remains unchanged, the:
a. equilibrium wage rate increases
b. price of the output that uses this labor resource increases.
c. equilibrium number of workers hired increases.
d. equilibrium wage rate falls.
d
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Refer to Table 2.4. Increasing the tanks of fertilizer from 4 to 5 will
A) decrease truckloads of potatoes. B) increase truckloads of potatoes. C) have no effect on truckloads of potatoes. D) require more acres of land.
_____ transactions refer to the export and import of goods and services as well as any international earnings on investments, both public and private
a. Current account b. Capital account c. Official reserve account d. Savings account
Which of the following would be a liability to a bank?
a. cash in the vault b. a loan to a new business c. a checking account of a professor d. All of the above are correct.
A tax that reduces economic efficiency is always bad policy.
Answer the following statement true (T) or false (F)