Demand and supply curves are drawn assuming ceteris paribus. This means that:
A) economists ignore all assumptions.
B) economists don't watch for the fallacy of false cause.
C) changes will be proportional.
D) all other things besides price and quantity are assumed unchanged.
Ans: D) all other things besides price and quantity are assumed unchanged.
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A firm's labor demand curve shows the relationship between the
a. wage rate and the quantity of labor supplied b. marginal revenue product of labor and the marginal product of labor c. wage rate and the quantity of labor demanded d. marginal product of labor and the quantity of labor demanded e. wage rate and the quantity demanded of the good produced by labor
It is likely that for most people:
A. coffee and tea are substitutes. B. coffee and coffee mugs are substitutes. C. coffee and Coke are complements. D. coffee and non-dairy creamer are substitutes.
The market demand for loanable funds is represented by a(n) ________ demand curve, reflecting a declining rate of return on investment
a. downward-sloping b. upward-sloping c. positively-sloping d. horizontal
Suppose that the natural unemployment rate is 4.5 percent and the actual unemployment rate is 3.5 percent. Then cyclical unemployment is
A) 1 percent. B) 3.5 percent. C) 8 percent. D) 0 percent. E) -1 percent.