Which of the following statements is TRUE about the market and individual firm's supply curve for labor?
A) The market supply curve is perfectly elastic and the individual firm's supply curve is perfectly inelastic.
B) The market supply curve is perfectly inelastic and the individual firm's supply curve is perfectly elastic.
C) The market supply curve is more elastic than the firm's supply curve.
D) The market supply curve is more inelastic than the firm's supply curve.
D
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A financial institution that wants a 5 percent real return on its loans and contemplates a 4 percent annual inflation rate should loan at a nominal interest rate of approximately
A) minus 1 percent. B) 1 percent. C) 9 percent. D) 15 percent. E) 20 percent.
Refer to Scenario 5.10. Hillary's indifference curves showing her preferences toward risk and return can be shown in a diagram. Expected return is plotted on the vertical axis and standard deviation of return on the horizontal axis
Although her indifference curves are upward sloping and bowed downward, their slope is very gradual (they are almost horizontal). These indifference curves reveal that Hillary is: A) risk neutral. B) risk averse. C) risk loving. D) irrational.
The invention of the Internet should make poorer countries
a. poorer due to the expense of new technology. b. poorer because the Internet is primarily in richer countries. c. richer because technology adoption is easier. d. richer because they can distribute information without costs.
An increase in the population of an economy will result in decreased output
a. True b. False Indicate whether the statement is true or false