In a perfectly competitive market with 1,000 firms, each demanding 50 laborers at a wage rate of $5 per hour, the quantity demanded of labor by the industry producing for this market at this wage is

In the loanable funds market,

a. savers are suppliers of loanable funds, and borrowers are demanders of loanable funds b. the supply curve slopes downward, and the demand curve slopes upward c. the supply curve reflects the negative relation between the market rate of interest and the quantity of savings d. households play the role of financial intermediaries e. banks pay a higher interest rate on consumer savings than they could earn by lending these funds out

The main point of the Consider This box about hypothetical countries Slogo, Sumgo, and Speedo is that over several decades differing:

A. inflation rates create large differences in real GDP per capita. B. economic growth rates create large differences in real GDP per capita. C. ratios of defense spending to GDP create large differences in real GDP per capita. D. unemployment rates create large differences in real GDP per capita.