What element of power is likely to increase in importance in the future, particularly outside of government institutions?
a. the power to create and to buy
b. the power behind a military
c. the power to collaborate
d. the power to develop unique culture
c. the power to collaborate
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Use the following diagram to answer the next question.
Which of the following statements about this market is not correct?
A. A wage rate of $5 maximizes the number of workers employed. B. Employers would benefit from a higher wage since they could profitably attract more workers. C. At a wage rate greater than $5 less than 500 workers would be employed. D. At a wage rate less than $5, less than 500 workers are supplied, so no more can be employed.
The higher the price of the good measured on the vertical axis, other thing remaining the same, the flatter the budget line
Indicate whether the statement is true or false
The above figure shows the demand and marginal cost curves for a monopoly. Under monopoly, consumer surplus equals
A) a + b. B) a + b + c. C) a + b + c + d + e + f. D) None of the above.
When a customer deposits $1,000 in a bank, the deposit is: a. an asset of the Federal Reserve
b. included in M1 if it is currently in a commercial bank's vault. c. a liability to the customer. d. an asset to a commercial bank if it is currently in the bank's vault. e. a liability for the bank as the bank owes it to the customer.