Refer to Figure 7-1. The efficient equilibrium price is
A) $30. B) $25. C) $20. D) <$20.
B
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Every country in the world has an independent central bank
Indicate whether the statement is true or false
Define "stagflation" and explain how it can be created
What will be an ideal response?
Requiring commercial banks to hold reserves equal to some fraction of their deposit liabilities
A) acts as a constraint on bank lending. B) is an alternative for banks that choose not to use the gold standard. C) is without significance since banks are not required to meet their liabilities on demand by depositors. D) prevents runs on banks by depositors who fear that the banks may not have assets equal to their liabilities. E) really has no effect on the monetary system today.
A firm's price rises. As a result, the
A) supply of labor to the firm decreases, that is, the labor supply curve shifts leftward. B) supply of labor to the firm increases, that is, the labor supply curve shifts rightward. C) demand for labor by the firm increases, that is, the labor demand curve shifts rightward. D) demand for labor by the firm decreases, that is, the labor demand curve shifts leftward.