The supply curve of truck drivers is upward sloping and demand curve is downward sloping. A reduction in the price of hauling freight by truck relative to the price of hauling freight by rail will ____ the equilibrium wage of truck drivers and ____ the number of drivers employed
a. decrease; decrease
b. decrease; increase
c. increase; decrease
d. increase; increase
d
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If loans are $69,000 . excess reserves are $1,400, and checkable deposits are $80,000 . then the required reserve ratio must be:
a. 1.75 percent. b. 12 percent. c. 13.75 percent. d. 17.5 percent. e. 0.12 percent.
The second phase of the Industrial Revolution took place in ____ (which country) during the early years of the ____ century.
Fill in the blank(s) with the appropriate word(s).
When it comes to figuring out who wants to be an organ donor, the answer depends on:
A. the default rule. B. whether presumed consent exists in the organ donation program. C. how you ask the question. D. All of these statements are true.
According to supply-side theory, which of the following would shift the aggregate supply curve leftward?
A. Lower marginal tax rates. B. An increase in the money supply. C. Government deregulation. D. An increase in unemployment and welfare benefits.