If the individual labor supply curves for all workers in a given location slope up, the market supply curves in that location
A. will be vertical.
B. will also slope up.
C. will slope down.
D. may slope up, down, or be vertical.
Answer: B
You might also like to view...
Suppose the Federal Reserve buys $50 million worth of securities from a commercial bank. As a result, the monetary base ________, and the quantity of money will ________ $50 million due to the ________
A) increases; increase by more than; money multiplier B) decreases; decrease by more than; money multiplier C) increases; increase by more than; expenditure multiplier D) decreases; decrease by less than; expenditure multiplier E) increases; decrease by; currency drain
Compared to the profit-maximizing outcome, average cost pricing in natural monopoly leads to
a. a higher price. b. decreased consumer surplus. c. the elimination of economic profit. d. less output.
Consumer?producer rivalry occurs because of:
A. producers' high production cost and consumers' low valuation of a good. B. consumers' high valuation and producers' low production cost of a good. C. the competing interests of consumers and producers. D. None of the statements associated with this question are correct.
Each of the following can contribute to the change in the supply of loans resulting from an interest rate change, except:
A. changes in the potential of moral hazard. B. increases in the demand for loans. C. changes in the percentage of loan payment to income. D. changes in borrowers' net worth.