If the market price of the product that employs labor in production increases:
a. the marginal product of labor increases.
b. the demand curve for labor shifts to the left.
c. the price of labor decreases.
d. the marginal revenue product of labor increases.
e. the supply curve of labor shifts to the left.
d
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Everything else remaining unchanged, what is likely to happen to the equilibrium real interest rate and quantity of credit if the credit demand curve shifts to the right?
A) Both equilibrium rate of interest and quantity of credit will decrease. B) The equilibrium rate of interest will decrease and the quantity of credit will increase. C) Both equilibrium rate of interest and quantity of credit will increase. D) The equilibrium rate of interest will increase and the quantity of credit will decrease.
Which of the following is classified as a liability for a commercial bank?
A) Reserves B) Commercial loans C) Demand deposits D) Deposits with the Federal Reserve
Suppose you have a choice of working full-time during the summer or going full-time to summer school. Summer tuition and books are $2,200 . If you worked, you could make $7,000 . Your rent is $1,000 for the summer, regardless of your choice. The opportunity cost of going to summer school is, therefore,
a. $2,200 b. $7,000 c. $8,000 d. $9,200 e. $10,200
Increases in inventories are subtracted from GDP because they reflect output that is produced but not sold
a. True b. False