Which of the following statements is true?
a. Derived demand for labor depends on the demand for the product labor produces.
b. Unions can either increase demand or decrease the supply of labor.
c. Investment in human capital is expected to increase the demand for those workers.
d. All of the answers are correct.
d
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The consumer's lifetime budget constraint states that
A) the present value of lifetime consumption must be equal to the present value of lifetime gross income. B) the present value of lifetime consumption must be equal to the present value of lifetime disposable income. C) the present value of lifetime consumption plus the present value of lifetime taxes to be paid must be equal to the present value of lifetime income. D) the present value of lifetime taxes to be paid by the consumer must be equal to the present value of government spending.
A market with an externality can
A. underproduce or overproduce a good. B. stabilize. C. operate efficiently without government intervention. D. move from a production point inside the production possibilities curve to a pareto optimal point.
As the reserve ratio increases, the money multiplier.
a) Increases. b) Does not change. c) Decreases. d) Could do any of the above.
In this graph, which of the following has an upward-sloping curve?
a. MC
b. D
c. MR
d. P*