A horizontal supply curve of labor implies that
a. lower wages are required to attract more employees
b. higher wages are required to attract more employees
c. MPP is constant
d. any quantity of workers can be hired at the same wage
e. the total labor cost curve is horizontal
D
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Given a required reserve ratio of 20 percent, a commercial bank that has received a new deposit of $100 can make additional loans of
A) $400. B) $0. C) $20. D) $80.
What are the components of the trilemma that is encountered when a country chooses its monetary policy and what is the meaning of the term?
What will be an ideal response?
Refer to Figure 16.1. A decrease in the depreciation rate is best represented by a movement from
A) point A to point B. B) point B to point A. C) point A to point C. D) point C to point A.
If a firm perceived that the other firm in an implicit pricing agreement dropped its price in an attempt to gain market share, then its most likely response would be to:
A. merge with the other firm. B. engage in a price war. C. raise price to punish the other firm. D. keep its price the same.