Suppose there are 100 identical firms producing package delivery services. One of the firms pays a wage rate of $7 and hires 20 delivery workers. The price the firm charges to deliver a package is $10 . We know then that the number of delivery workers in the package delivery industry is
a. 100 workers
b. 200 workers
c. 700 workers
d. 2,000 workers
e. 10,000 workers
D
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A division of a firm is
a. a logical sub-organization of the firm b. a level within the firm in which a large degree of autonomy is vested c. a level of hierarchy within a firm that defines the scope of a manager d. all of the above
The speculative demand for money shows the relationship between money demand and:
a. income levels. b. interest rates. c. prices d. investment. e. consumption.
Which of the following could cause the supply curve of loanable funds to shift to the left?
a. decrease in productivity b. increase in the rate of interest c. decrease in the rate of interest d. increase in productivity e. expectation that future prices will increase
Figure 4-17
Refer to . If the government imposes a price ceiling in this market at a price of $5.00, the result would be a
a.
shortage of 20 units.
b.
shortage of 10 units.
c.
surplus of 20 units.
d.
surplus of 10 units.