If the demand for a good increases, the
a. demand for labor producing the good will increase
b. demand for labor producing the good will decrease
c. marginal labor cost will increase
d. marginal labor cost will decrease
e. marginal physical product of labor will increase
A
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If total spending is less than total output, then price levels will
A. rise and production will increase. B. rise and production will decrease. C. fall and production will increase. D. fall and production will decrease.
A likely consequence of deposit insurance, ceteris paribus, is ________
A) an increase in risk-taking by banks B) a bank panic C) a credit boom D) a reduction in the severity of adverse selection
A dry cleaner currently has 10 workers and 4 machines. The workers' wage rate is $300 per worker and the rental rate for a machine is $500. The last worker added 600 units to total output and the last machine also added 600 units to total output, and the last machine also added 600 units to total output. If the dry cleaner uses 11 workers and 3 machines instead, then
A. cost will be unchanged and output will decrease by 200 units. B. cost will be unchanged and output will increase by 300 units. C. output will be unchanged and cost will decrease by $200. D. output will be unchanged and cost will decrease by $500. E. none of the above
On the settlement date of a futures contract:
A. the future's price is equal to the price of the underlying asset. B. the future's price is always below the price of the underlying asset. C. the future's price may be above or below the price of the underlying asset but not equal to it. D. the future's price is always above the price of the underlying asset.