In a situation of excess supply in the labor market, there are:
a. many applicants for every job opening; employers will have an incentive to offer lower wages than they otherwise would have.
b. few applicants for every job opening; employers will have an incentive to offer lower wages than they otherwise would have.
c. many applicants for every job opening; employers will have an incentive to offer higher wages than they otherwise would have.
d. few applicants for every job opening; employers will have an incentive to offer higher wages than they otherwise would have.
a. many applicants for every job opening; employers will have an incentive to offer lower wages than they otherwise would have.
In a situation of excess supply in the labor market, there are many applicants for every job opening; employers will have an incentive to offer lower wages than they otherwise would have.
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The required-reserve ratio is equal to a commercial bank's
A. required reserves divided by its checkable-deposit liabilities. B. excess reserves divided by its required reserves. C. checkable-deposit liabilities multiplied by its excess reserves. D. checkable-deposit liabilities divided by its required reserves.
The figure above represents the production possibilities frontier for a country. a) The nation is currently producing at point B and wants to move to point C
What is the opportunity cost of the move? b) The nation is currently producing at point B and wants to move to point A. What is the opportunity cost of the move?
Ceteris paribus, for a monopoly to sell more output, it must lower its price.
Answer the following statement true (T) or false (F)
A rational person:
A. makes choices based on added benefits and added costs. B. considers the financial benefits and financial costs of making a choice. C. undertakes activities until the net benefits become less than zero. D. makes choices based on total benefits and total costs.