If the government sets a minimum wage which is more than the equilibrium wage, the firms tend to demand more labor
a. True
b. False
Indicate whether the statement is true or false
False
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An individual firm desiring to obey the letter of the law while avoiding the effects of regulation may use
a. predatory pricing. b. tit-for-tat strategies. c. creative response. d. collusion.
A bank's assets consist of $500,000 in total reserves, $1,600,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $2,000,000 in demand deposits and $1,300,000 in capital. If the required reserve ratio is 20 percent, what is the level of the bank's excess reserves? How much could it loan out as a result?
a. $100,000; $100,000 b. $100,000; $400,000 c. $400,000; $500,000 d. $400,000; $2,000,000
The average variable cost of producing 4 posters is
a. $2.00. b. $2.50. c. $5.00. d. $3.33.
The higher the U.S. dollar price per Mexican peso, the __________ Mexican goods are for Americans and the __________ Mexican goods Americans will buy; thus __________ pesos will be demanded
A) more expensive; fewer, more B) less expensive; more, fewer C) more expensive; fewer, fewer D) less expensive; fewer, more E) none of the above