Professor Weldon offers to pay his graduate students $20 an hour to grade essay papers. Six students accept the offer. When he raises the wage rate to $25, all ten of his students accept the offer. At least within the wage rate range $20 to $25, the students'
a. supply curve of labor is downward sloping
b. demand curve for labor is downward sloping
c. supply curve of labor is upward sloping
d. demand curve for labor is downward sloping
e. supply curve of labor is backward bending
C
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According to the Weber-Fechner law, the perceived size of a change in a stimulus will be large when the change in the stimulus:
A. is a rare event. B. occurs frequently. C. is large in proportion to the original stimulus. D. is small in proportion to the original stimulus.
A certain investment involves ownership in a single company, pays a set dividend, and guarantees that its owners get paid before some investors, but after others. What type of investment is this?
a. a mutual fund b. a bond c. common stock d. preferred stock
Figure 9-3
?
In Figure 9-3, saving at equilibrium GDP is
A. $1,200 billion. B. $1,000 billion. C. $800 billion. D. $600 billion. E. $400 billion.
The Herfindahl-Hirschman Index measures:
A. the degree of concentration in a market. B. the percentage of market share held by the four largest firms in a market. C. the percentage of market share held by the largest firm in a market. D. the market share held by the largest firm in a market divided by the market share held by all other firms in the market.