Which of the following may shift the labor supply curve?
A. an increase in the value people place on their time
B. an increase in the wage rate
C. an increase in the corporate tax rate
D. an increase in the price of the output of the firm
Answer: A
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Suppose you are given the following demand data for a product.PriceQuantity Demanded$1030940850760670The price elasticity of demand (based on the midpoint formula) when price increases from $7 to $9 is
A. -1.16. B. -2.27. C. -1.60. D. -.63.
Which of the following always lowers the equilibrium price?
A) an increase in both demand and supply B) a decrease in both demand and supply C) an increase in demand combined with a decrease in supply D) a decrease in demand combined with an increase in supply
Refer to Figure 3-1. A decrease in the price of the product would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
The largest liability of the Fed from those on this list is
A) U.S. Treasury securities. B) mortgage-backed securities. C) loans to depository institutions. D) currency outstanding.