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The real wage
A. will cause a shift in the labor supply curve if it changes
B. always equals the marginal product of labor
C. equals the marginal product of labor when the firm employs the profit maximizing quantity of labor
D. will fall if there is an excess demand for labor
Illustrate what happens if the consumer faces a borrowing constraint that prevents her from borrowing.
Assume a bank faces a required reserve ratio of 5 percent. If a bank has $200,000 millino of checkable deposits and $15 million of total reserves, then how large are the bank's excess reserves?
determine the macroeconomic effects of the following macroeconomic event when the economy is initially at less than
With respect to tariffs and quotas, it can generally be said that:
Standard empirical analysis of learning by doing estimates a "progress ratio" that is the reduction in a firm's average costs. Write down an algebraic form of a cost function which would have a constant "progress ratio."
Suppose also that ham and cheese are the only goods that this person buys and that bread is free.
An economy produces 2 goods soda a beer. Fully explain why the marginal cost function in the beer industry derives from the marginal benefits of the soda that is given up when beer is produced.
The banking system is a fractional reserve banking system with a desired reserve deposit ratio. Banking system is a fractional reserve banking system.
Suppose you purchase a 30-year, zero-coupon bond with a yield to maturity of 6%. You hold the bond for five years before selling it. a. If the bond's yield to maturity is 6% when you sell it, what is the internal rate of return of your investment?
Calculate GDP loss if equilibrium level of GDP is $10,000, unemployment rate 8.8%, and the MPC is 0.75. How much money should the government spend to eliminate this GDP loss? Calculate the tax cut needed to eliminate this GDP loss.
If a 20% decrease in th price of long distancephone calls leads to a 35% rise in the quantity of calls demanded, you may conclude that the demand for phone calls is.
Answer the question on the basis of the following information: Harry owns a barber shop and charges $6 per haircut. By hiring one barber at $10 per hour, the shop can provide 24 haircuts per eight-hour day. By hiring a second barber at the same wage ..
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