The demand curve that an individual competitive firm faces is known as its
A) excess demand curve.
B) market demand curve.
C) residual demand curve.
D) leftover demand curve.
C
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The number of job seekers in any sector of the economy ordinarily exceeds, by at least a small amount, the number of jobs available. Thus, employers
A) could increase their net revenue by lowering wages. B) could increase their net revenue by raising wages. C) do not pay close attention to marginal cost and marginal revenue in setting wages. D) face the threat of unionization. E) want employees to value their current jobs significantly more highly than they value alternative jobs.
Economists can be college professors or business analysts. If there is an increase in businesses' need for economic analysis,
a. the wage of economists will tend to decrease. b. colleges will have to pay less money to hire economists as professors. c. more economists will decide to become professors. d. fewer economists will decide to become business analysts. e. All of the above.
Why is the president of the New York Fed always a voting member of the FOMC?
If someone gives you a free ticket to the movies, then there is no opportunity cost involved with going to the movies
Indicate whether the statement is true or false