In a representative labor market,
a. the wage adjusts to balance the supply and demand for labor.
b. the wage equals the value of the marginal product of labor.
c. an increase in the supply of labor increases the equilibrium wage.
d. Both a and b are correct.
d
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Wages and labor are inversely related for people who value leisure more than work
Indicate whether the statement is true or false
Price and quantity decisions made by a company have vital influences on
a. the firm's labor requirements. b. consumer response to the product. c. future success of the company. d. All of the above are correct.
The worst post–World War II recession in the United States occurred in
A. 1964 B. 1973 C. 1981 D. 2007
Use the following balance sheet for the ABC National Bank in answering the next question. Assume the required reserve ratio is 20 percent.AssetsLiabilities & Net WorthReserves$27,000 Checkable Deposits$110,000Loans50,000 Stock Shares200,000Securities33,000 Property200,000?Refer to the above data. If the original balance sheet was for the commercial banking system, rather than a single bank, loans and checkable deposits could have been expanded by a maximum of:
A. $15,000. B. $48,000. C. $8,000. D. $25,000.