In general, the less elastic the resource supply, the less the economic rent as a proportion of total earnings
Indicate whether the statement is true or false
false
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Absent any violations of the first welfare theorem, the competitive market production level of a good will be the same as that chosen by a social planner whose goal includes (but is not necessarily limited to) efficiency.
Answer the following statement true (T) or false (F)
If the required reserve ratio decreases, the:
a. money multiplier increases. b. money multiplier decreases. c. amount of excess reserves the bank has decreases. d. money multiplier stays the same.
Which of the following people is would be considered a new entrant according to the Bureau of Labor Statistics?
a. a 35-year-old mother of two who will be taking a part-time job at the government agency she worked for before she started her family b. a 67-year-old retiree who decides to begin volunteering at a homeless shelter several days a week c. a 43-year-old who decides to quit his career as a financial analyst to become a yoga instructor d. a 21-year-old who just graduated from college and is looking for a part-time clerical job because he has no work experience
The slope of the perfectly inelastic demand curve is ________, the slope of the perfectly elastic demand curve is ________
A) undefined, zero B) one, one C) zero, undefined D) one, zero