Other things being equal, a fall in the price of orange juice will decrease the quantity supplied
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to Scenario 14-2. As a result of Kristy's deposit, Bank A's required reserves increase by
A) $2,000. B) $8,000. C) $10,000. D) $50,000.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
Four points on a demand schedule are given: $12, 2 units; $10, 3 unit; $15, 5 units; and $2, 4 units. Which combination is inconsistent with the law of demand?
A) $12 and 2 units B) $10 and 3 unit C) $15 and 5 units D) $2 and 4 units
If the supply of labor decreases, which of the following events will occur?
A. The wage rate will increase and firms will increase employment up until the point where MRP equals the new wage rate. B. The wage rate will fall and firms will increase employment up until the point where MRP equals the new wage rate. C. The wage rate will fall and firms will decrease employment to the point where MRP equals the new wage rate. D. The wage rate will increase and firms will decrease employment to the point where MRP equals the new wage rate.