In the figure above, if the market is unregulated, the price will be
A) $250 per unit.
B) $200 per unit.
C) $150 per unit.
D) $100 per unit.
C
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GDP tends to rise and fall during economic fluctuations but other measures follow the same pattern. One of these measures is
A. the annual precipitation rate. B. the growth of the money supply. C. the inflation rate. D. the unemployment rate.
Which of the following would not shift the aggregate demand curve?
A. Income tax rates B. Real interest rates C. Productivity rates D. Foreign-exchange rates
A supply schedule can be plotted on a graph to yield a supply curve.
Answer the following statement true (T) or false (F)
If the MRP of labor decreases, labor:
a. demand will decrease. b. demand will increase. c. supply will increase. d. supply will decrease. e. demand and supply will be unaffected.