Refer to the figure above. What is the equilibrium quantity of labor hired by the firm when the wage rate is $4 per hour?
A) 10 hours
B) 20 hours
C) 50 hours
D) 70 hours
C
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When G = T the government is running a budget deficit
Indicate whether the statement is true or false
Are money and income the same thing?
a. No, money is measured at a point in time and income is measured for a period of time. b. No, money is measured for a period of time and income is measured at a point in time. c. Yes, they are just measured in different ways. d. Yes, the only difference is real versus nominal.
As rational consumers, you attempt to maximize utility by allocating your time so that the expected marginal utility of the last unit of time spent in each activity is different
Indicate whether the statement is true or false
Which one of these is not a major aim (or goal) of bankers?
A. Maximizing their holdings of excess reserves B. Protecting their depositors C. Maintaining liquidity D. Making high profits