If the wage rate were $250, how many workers would be hired?
Answer: 3
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Agency problems in the subprime mortgage market included all of the following EXCEPT
A) homeowners could refinance their houses with larger loans when their homes appreciated in value. B) mortgage originators had little incentives to make sure that the mortgagee is a good credit risk. C) underwriters of mortgage-backed securities had weak incentives to make sure that the holders of the securities would be paid back. D) the evaluators of securities, the credit rating agencies, were subject to conflicts of interest.
Which of the following is a public good?
a. Pencil. b. Apple. c. Light house. d. Gun.
The market demand curve:
A. shows the relationship between the price of a good and the quantity that all consumers together are willing to buy. B. is drawn assuming that variables such as income and tastes are variable. C. is drawn assuming that the number of consumers is variable. D. is drawn assuming that the selling price is fixed.
If, in an economy, households receive $200 in interest payments and make interest payments of $210, wages equal $500, rental receipts are $300, royalties are $100, profits are $200, depreciation is $50, and indirect business taxes are $50, then gross domestic income is
A. $1280. B. $1190. C. $1110. D. $1180.