If Macroland's first Prime Bank has deposits of $35,000 and makes the maximum possible loans of $50,000 allowed, then Macroland's legal reserve requirement must be 17.5 percent
Indicate whether the statement is true or false
F
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In the figure above, the United States ________ helicopters per year
A) exports 480 B) exports 720 C) imports 480 D) imports 240
Which of the following is included in gross domestic product for an economy in a given year?
A) the value of used goods sold in that year B) the value of final goods produced in that year C) the value of intermediate goods produced in that year D) All of the above would be included in gross domestic product for an economy in a given year.
Explain why a single labor supply curve can have both a positive and negative elasticity
What will be an ideal response?
In the long run, a competitive firm has a marginal product of labor, MPL = L-1. The output price is $20 per unit and the wage is $7.25 per hour. The long-run labor demand curve for the firm is
A) 20L-0.05. B) 7.25L-0.05. C) 20L-1. D) 7.25L-1.