Suppose that the wage for musicians decreases relative to other occupations. We know that ________ people will work in music, and the total number of hours worked will ________.

The tables above show a nation's labor demand and labor supply schedules and its production function. The equilibrium real wage rate is ________ and the equilibrium quantity of labor is ________ billion hours per year

A) $50; 100 B) $40; 90 C) $30; 80 D) $40; 80 E) $20; 110

One of the costs of the Federal Deposit Insurance Corporation's protection is

a. bank managers may take great risks with depositors' money b. the public pays closer attention to the bank managers' actions c. the Fed was forced to reduce its regulation of banks d. bank managers may act too cautiously with depositors' money e. banks' profits increased