The number of people willing to buy tickets to the Super Bowl is invariably greater than the number of tickets (and seats) available. This is evidence that the price of the tickets is
What will be an ideal response?
lower than the equilibrium price.
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The labor force is defined as the number of
A) people who are working. B) union members who are working. C) people who are working in labor-type jobs. D) employed plus the number of unemployed.
The figure above shows the market for bank reserves in Futureland
If the Bank of Futureland lowers the target federal funds rate by 1 percentage point, the central bank will conduct an open market ________ of government securities of ________ to ________ the supply of reserves. A) purchase; $25 billion; decrease B) sale; $25 billion; increase C) sale; $75 billion; decrease D) purchase; $75 billion; increase E) purchase; $25 billion; increase
Table 7-4 ? 6 346 490 600 692 775 846 ? 5 316 448 548 632 705 775 ? 4 282 400 490 564 632 692 CAPITAL 3 245 346 423 490 548 600 ? 2 200 282 346 400 448 490 ? 1 141 200 245 282 316 346 ? 0 1 2 3 4 5 6 ? LABOR ? ? ? ? ? Table 7-4 shows a production relationship. Assuming the capital stock is fixed at three units and the cost per day of labor is $65, what is the most labor that it is efficient to hire if the product price is $1 per unit?
A. 2 B. 3 C. 4 D. 5
The features of the M-Form of firm organization are
a. divisions can respond more easily to change b. it is difficult to maintain customer relationships c. coordination across divisions is simple and does not take much management time d. evaluating employees is easier because managers typically are similarly trained