If the MRP of labor decreases, labor:
a. demand will decrease.
b. demand will increase.
c. supply will increase.
d. supply will decrease.
e. demand and supply will be unaffected.
a
Economics
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Suppose money supply (M) = $500, real GDP (Y) = $1,000, and nominal GDP = $5,000. Calculate the value of velocity and the price level.
A) V=2;P=1 B) V=4;P=5 C) V=10;P=5 D) V=10;P=1
Economics
The above figure shows the market for a particular good. If the market is controlled by a perfect-price-discriminating monopoly, compared to a monopoly who charges a single price, the change in consumer surplus is
A) A. B) A + B + C. C) A + B + C + D + E. D) zero.
Economics