In this graph, when consumption 2,500, savings is
A. -2000.
B. -1500.
C. 1000.
D. 0.
B. -1500.
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Suppose that workers decrease their taste for leisure, and thus require less time away from work. What is likely to happen to wages and the quantity of labor hired?
A) wages increase, quantity of labor hired decreases B) wages increase, quantity of labor hired increases C) wages decrease, quantity of labor hired decreases D) wages decrease, quantity of labor hired increases
Most of the goods produced in an economy are ________
A) private goods B) public goods C) club goods D) inferior goods
If the interest rate on Japanese yen assets falls while interest rates in the United States remain constant, the
A) quantity of dollars demanded will increase. B) quantity of dollars demanded will decrease. C) demand for dollars will increase. D) demand for dollars will decrease.
An increase in product price implies that
A) the firm's marginal factor cost will increase. B) the wage rate the firm pays will increase. C) the firm's demand for labor increases. D) the firm's demand for labor decreases.