If an excess quantity of labor demanded exists in a free market, there is a tendency for
A. quantity demanded to fall.
B. quantity supplied to rise.
C. the wage rate to fall.
D. the wage rate to rise.
Answer: D
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Use the following table to answer the next question.YearAltaZornAltaZorn?(Real GDP)(Real GDP)(Population)(Population)1$2,000$150,00020050022,100152,00020250532,200154,000210508Between years 2 and 3
A. Alta's real GDP grew more rapidly than Zorn's real GDP. B. real GDP fell in Zorn. C. population fell in Alta. D. population growth reduced Alta's real GDP growth to zero.
A benefit that accrues to people other than the buyer of a good is known as ________ benefit
A) an internal B) an external C) a marginal D) a total E) a subsidized
How are the following items treated in the calculation of M1?
A. Checkable deposits and currency are both included. B. Small time deposits and money market mutual funds of individuals are both included. C. Small time deposits and currency are both included. D. Checkable deposits are excluded and currency is included.
A student at New York University used to take the Redhound bus when she visited her grandmother in Boston
After graduating, although the bus fare and the plane fare were the same as they were when she was a student, with a well-paid job on Wall Street she now takes the plane to Boston to visit her grandmother. For this student, travel by Redhound bus is A) a normal good. B) an inferior good. C) a substitute good. D) a complement good. E) a good with negative preferences.