A principle of Islamic economics is:
a. prohibition of charity
b. give charity only to the state
c. charge interest equal to risk
d. prohibition of interest
e. all of the above
D
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The real wage rate is the ________ divided by the ________
A) equilibrium quantity of employment; potential GDP B) nominal wage rate; inflation rate C) nominal wage rate; price level D) quantity of labor demanded; quantity of labor supplied E) quantity of labor supplied; quantity of labor demanded
The residual demand curve is
A) the market demand minus the supply of other firms. B) the remaining demand after the market clears. C) the market demand minus the supply of one firm. D) the long-run demand for a market.
Suppose an insurance company has estimated that 20 percent of all of its potential policy owners are high-cost and sets a price for their insurance policy with the understanding that 20 percent of its policy owners will be high-cost. If the true percentage of high-cost potential policy owners is 40 percent, the insurance company has set its price too ________ and will have ________ high-cost
policy owners than expected. A) low; less B) low; more C) high; less D) high; m
People tend to remain in those occupations that require continuous time and financial commitments to remain productive
a. True b. False Indicate whether the statement is true or false