If both the market for a firm's output and the market in which it hires its labor are perfectly competitive, the firm's labor demand curve will be perfectly elastic
a. True
b. False
B
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Textbook publishers hope to maximize profits. Authors, however, face very different incentives. Authors are typically paid royalties, which are a specified percentage of total revenue from the sale of a book
And so, for example, if an author's contract says that she will receive 20 percent of the revenues from the sale of a text and the publisher's total revenues are $100,000, the author's royalties will be $20,000 . Who will prefer a higher price for the text, the publisher or the author?
Starting from equilibrium in the money market, suppose the money supply increases. Other things being equal, this will cause an excess demand for money, leading people to sell bonds
a. True b. False Indicate whether the statement is true or false
This group is most likely to be harmed by inflation.
A. Debtors B. Persons on fixed incomes C. The young D. Foreigners
At which point is the real wealth lowest?
a. A
b. B
c. C
d. Y