On a graph, the private sector's demand for loanable funds curve is
a. upward sloping
b. vertical
c. horizontal
d. downward sloping
e. horizontal then upward sloping
D
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In terms of the marginal product of labor, how much labor is needed to produce one more unit of output? If the cost of that labor is w, then how much does one more unit of output cost to produce? If a firm is a perfectly competitive profit maximizer, show why they produce where w equals the marginal revenue product of labor.
What will be an ideal response?
The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement. 
In the Nash equilibrium of this game:
A. Bagel World abides and Bagels 'R' Us cheats B. both firms abide by the agreement C. Bagel World cheats and Bagels 'R' Us abides D. both firms cheat on the agreement
A special interest issue is one that:
a. provides large private benefits and large social benefits b. provides small private benefits and large social benefits. c. provides large benefits to each of a small number of people and small costs to each of a large number of people. d. provides small benefits to each of a small number of people and large costs to each of a large number of people.
When the consumer spends less than 1% of his income on a good, demand will be
A) elastic. B) unit-elastic. C) inelastic. D) elastic, unit-elastic or inelastic depending upon supply.