Figure 14-8
Refer to . At an interest rate of 4 percent there is excess
a.
money demand equal to the distance between a and b.
b.
money demand equal to the distance between b and c.
c.
money supply equal to the distance between b and a.
d.
money supply equal to the distance between c and b.
c
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The relationship between the labor employed by a firm and the real wage rate is shown by the
A) supply of labor curve. B) supply of jobs curve. C) demand for jobs curve. D) demand for labor curve.
There are two closely related crops, X and Y, with the following demand functions QX = 180 - 2PX + PY and QY = 150 + PX - PY where QX is the quantity of X, PX is the price of X, QY is the quantity of Y, and PY is the price of Y
These two crops are grown in two widely separated countries so there is no interrelationship between the supply curves. The short-run perfectly inelastic supply for X is 200 while the short-run perfectly inelastic supply for Y is 100. In equilibrium, the prices are A) PX = 30, PY = 80 B) PX = 40, PY = 60 C) PX = 60, PY = 120 D) PX = 80, PY = 130