The labor market is in equilibrium when:
a. the demand curve lies above the supply curve.
b. both demand and supply curves are positively sloped.
c. both demand and supply curves are negatively sloped.
d. the demand curve intersects the supply curve.
e. the demand curve is negatively sloped but the supply curve is positively sloped.
d
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The break-even point on the consumption function represents the point where
A) consumption is zero. B) income equals consumption plus spending. C) consumption equals spending. D) consumption equals income.
Recall the Application. The experiment conducted by Blinder showed that the actual process of having committee meetings and discussions
A) improved the group's overall performance. B) tended to polarize the group into two distinct factions. C) magnified the individual group member's differences. D) related to the average performance of the individual group members.
In a repeated game, deterring entry
A) is not possible. B) is not a rational strategy if money is lost fighting the first potential entrant. C) may require losing money fighting the first potential entrant. D) cannot form a subgame perfect Nash equilibrium.
Assume that the Paris First National Bank is a thriving bank with deposits of $20 million. If the required reserve ratio is 20 percent and the bank is fully loaned out, the bank will have outstanding loans totaling:
a. $2 million. b. $4 million. c. $10 million. d. $16 million. e. $20 million.