The quantity of labor demanded definitely increases if the
A) supply of labor decreases.
B) real wage rate falls.
C) nominal wage rate rises.
D) real wage rate rises.
E) nominal wage rate falls.
B
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A bank faced with the wholesale loss of deposits is likely to shut down despite fundamentally sound balance sheet. Why could this be?
A) Banks have accountants that are too optimistic. B) Banks purposely lie about their balance sheets in order to attract more clients. C) Many bank assets are illiquid and cannot be sold quickly to meet deposit obligations without substantial loss to the bank. D) Many banks operate on a budget that exceeds their actual reserves. E) Many banks will shut down to preserve their interest profits.
By referring to Figure 7-1, an increase in the money stock
a. shifts the LM schedule to the right from LM0 to LM1. b. shifts the LM schedule to the left from LM0 to LM2. c. leaves the LM curve unchanged at LM0. d. shifts neither the IS nor the LM schedule.
The different points on a cost curve represent alternative production possibilities in the same time period
a. True b. False Indicate whether the statement is true or false
What do economists call the per-unit cost of operation?
a. average total cost b. average fixed cost c. average variable cost d. average sunk cost