The labor supply curve
A) is unit elastic.
B) shows the relationship between the wage rate and the quantity of labor supplied.
C) shows the quantity of jobs supplied at various wage rates.
D) is U-shaped.
B
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A new financial innovation results in people switching their funds from checking deposits to savings accounts. The quantity of M1 ________ and the quantity of M2 ________
A) decreases; decreases B) increases; decreases C) decreases; does not change D) decreases; increases
What are the reasons why disclosure by the SEC do not eliminate the information costs of adverse selection?
What will be an ideal response?
Clifford lives by the motto "Eat, drink and be merry today, for tomorrow doesn't matter." If today's consumption is measured on the horizontal axis and tomorrow's consumption is measured on the vertical axis, Clifford's indifference curves
A) are horizontal straight lines. B) are vertical straight lines. C) show decreasing utility as one moves upward. D) cannot be determined from the information given.
Which of the following would be subtracted from the GDP to determine the GNP?
a. the profits a Chinese company earns in China b. the profits a U.S. company earns in the United States c. the profits a U.S. company earns in China d. the profits a Chinese company earns in the United States