law of supply
What will be an ideal response?
-There is a direct relationship between the price of a good or service and the amount that suppliers are willing to produce
- upward sloping
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Assuming all else equal, if firms expect the demand for their products to increase in the near future, ________
A) their labor supply curve will shift to the right. B) their labor demand curve will shift to the left. C) their labor supply curve will shift to the left. D) their labor demand curve will shift to the right.
Which of the following would most likely reduce the number of bank failures?
a. an increase in the number of small banks b. tighter restrictions on interstate banking c. creating a system of deposit insurance d. encouraging banks to make more risky loans
Regulation of the financial system
A) occurs only in the United States. B) protects the jobs of employees of financial institutions. C) protects the wealth of owners of financial institutions. D) ensures the stability of the financial system.
Social forces:
a. affect the price mechanism through cultural norms. b. affect the price mechanism through the educational system. c. affect the price mechanism through scarcity. d. do not affect the price mechanism.