If a price ceiling is a binding constraint on a market, then
a. the equilibrium price must be below the price ceiling.
b. the quantity supplied must exceed the quantity demanded.
c. sellers cannot sell all they want to sell at the price ceiling.
d. buyers cannot buy all they want to buy at the price ceiling.
d
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When firms decide how much labor to hire, one of the factors that influences them is the
A) nominal wage rate plus the inflation rate. B) nominal wage rate divided by the price level and then multiplied by 100. C) nominal wage rate minus the inflation rate. D) real wage rate plus the inflation rate. E) nominal wage rate divided by the inflation rate and then multiplied by 100.
What is the dilemma faced by firms in oligopoly?
What will be an ideal response?
Moore (1959) finds evidence to suggest that the mild cyclical deviations in employment and output of the Korean War were caused by progressive income taxes and unemployment compensation
Indicate whether the statement is true or false
In the short run, a competitive firm has a marginal product of labor, MPL = 2L-0.25. The output price is $4 per unit and the wage is $5 per hour. The short-run labor demand curve for the firm is
A) 10L-0.25. B) 8L-0.5. C) 4L0.25. D) 8L-0.25.