An increase in the price of a firm's good or service shifts its demand curve for labor leftward
Indicate whether the statement is true or false
FALSE
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Insurance companies can reduce risk by accepting premiums from
A) many people to insure against independent events. B) few people to insure against dependent events. C) few people to insure against independent events. D) many people to insure against dependent events.
Refer to Figure 4-5. Suppose that instead of a price ceiling, the government imposed a price floor of R1. What is the quantity of apartments demanded at the new price?
A) 0 B) Q0 C) Q1 D) Q*
The River Rouge plant was built by the Ford Motor Company in the 1920s to produce the company's Model A car. Which of the following is evidence that the River Rouge plant suffered from diseconomies of scale?
A) Model A cars made at the River Rouge plant failed to earn a profit. Ford reduced the average cost of the Model A by cutting its employees' wages. B) Model A cars made at the River Rouge plant failed to earn Ford a profit. Ford eventually constructed smaller plants to make the Model A at a lower average cost. C) Model A cars made at the River Rouge plant failed to earn a profit because the price of steel used to manufacture the Model A rose when workers in the steel industry went on strike. D) Despite an expensive advertising campaign the Model A did not earn the company a profit.
Refer to Table 9-3. If the required reserve ratio is 10%, what is the value of the bank's required reserves?
A) $25 million B) $40 million C) $60 million D) $75 million