Which of the following is true?
A. The supply curve is downward sloping and demand curve is upward sloping.
B. Both the supply curve and the demand curve are downward sloping.
C. Demand is downward sloping and supply is upward sloping.
D. Both the supply curve and the demand curve are upward sloping.
Answer: C
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When wages increase, the income effect ________ the supply of labor and the substitution effect ________ the supply of labor.
A. decreases; increases B. increases; decreases C. increases; increases D. decreases; decreases
Suppose a valley periodically floods. A dam can be built in the river that would prevent the flooding. Explain how flood control provided by building the dam arguably fits the characteristics of a public good
What will be an ideal response?
Approximately what percentage of the World Bank's loans go to developing nations in the the entire African continent?
A. 100% B. 34% C. 5% D. 70%
Suppose that a bond having no expiration date has a face value of $10,000 and pays a fixed amount of interest of $1000 annually. Compute and enter in the spaces provided either the effective interest rate which a bond buyer could receive at the new price or the bond price (rounded to the nearest $1000) required to receive the interest rate shown.
