If the market supply curve and market demand curve for a good intersect at 600,000 units and there are 10,000 identical firms in the market, then each firm is producing
A) 600,000 units.
B) 60,000,000,000 units.
C) 60,000 units.
D) 60 units.
E) 10,000 units.
D
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The Canadian experience with inflation and unemployment in the early 1990s has this to say about policy rules:
A) A central bank independent of political pressure may thereby not be serving the public's politically-revealed preferences. B) A central bank bowing to political pressure cannot get the inflation rate below the unemployment rate. C) A constant-growth-rate-of-money rule cannot stabilize inflation if unemployment is allowed to vary substantially. D) A constant-growth-rate-of-high-powered-money rule allows too much variation in the growth of the actual money supply to hold down inflation.
Which of the following statements is TRUE about the market demand curve for labor?
A) The market demand curve is the sum of the individual firm's demand curve. B) The market demand curve will be perfectly inelastic since firms need labor. C) The market demand curve shows the quantities of labor demanded by all firms in the industry at various marginal products. D) The market demand curve depends upon labor productivity, the wage rate and the price of the final product.
A loan is:
A. a financial asset that represents partial ownership of a company. B. a payment made periodically to all shareholders of a company. C. an agreement in which a lender gives money to a borrower in exchange for a promise to repay the amount loaned plus an agreed-upon amount of interest. D. a promise by the bond issuer to repay the loan, at a specified maturity date, and to pay periodic interest at a specific percentage rate.
An unexpected change in nominal interest rate changes real interest rate by ____ in the short run
a. a smaller amount b. a larger amount c. the same amount d. an indeterminate percent