If both demand and supply change, the two equilibrium values would change depending on the relative ______ of the changes in supply and demand.
a. consequences
b. magnitude
c. timing
d. accuracy
b. magnitude
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Which of the following are not thrift institutions?
A) Savings and loan associations (S&Ls) B) Mutual savings banks C) Money market mutual funds D) Credit unions
An increase in U.S. income that increases American demand for all normal goods (including imports from Britain) will shift
a. the U.S. demand curve for foreign exchange to the right, causing an increase in the dollar-per-pound exchange rate b. the U.S. demand curve for foreign exchange to the left, causing a decrease in the dollar-per-pound exchange rate c. the U.S. supply curve for foreign exchange to the right, causing a decrease in the dollar-per-pound exchange rate d. the U.S. supply curve for foreign exchange to the left, causing an increase in the dollar-per-pound exchange rate e. neither the U.S. demand curve for foreign exchange nor the U.S. supply curve for foreign exchange
Johnson's Piggery is the only employer in town. Johnson employs 500 workers and pays them each a wage of $8 . The MRP of the 500th worker is $10 . Johnson's return to monopsony power is
a. 2 percent b. equal to the marginal labor cost c. $4,000 d. $9 e. $1,000
Briefly explain the three functions of money