Let demand be given by P = 20 - 3Q and supply by P = 5 + 2Q. Equilibrium quantity will be:
A. 10
B. 3
C. 5
D. 11
Answer: B
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When the benefit of another hour of work is greater than the opportunity cost, we would expect the worker to work:
A. another hour. B. an hour less. C. exactly that amount. D. Cannot be determined without more information.
Which of the following is a basic human need?
a. Transportation b. Healthcare c. Money for gas d. College level education e. Savings
Early union activity in the late 18th and early 19th centuries in the United States was halted by court decisions holding that unions constituted criminal conspiracies
Indicate whether the statement is true or false
Other things the same, if there is an increase in the money supply growth rate that is larger than expected, then in the short run
a. the natural rate of unemployment rises. b. the natural rate of unemployment falls. c. the unemployment rate will be above its natural rate. d. the unemployment rate will be below its natural rate.