Bill owns a lawn-care company in Windermere, Florida, whose cost curves are illustrated in the above figure. The market equilibrium price in this perfectly competitive market equals $32 per lawn mowed
At this price, how many lawns will Bill mow per week? A) more than 10 and less than 30
B) 30
C) 40
D) 50
E) 0
C
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The labor-force participation rate shows the percentage of
A) non-institutionalized working-age people who are actually working or seeking employment. B) people not working, but who want to work. C) new entrants into the labor force. D) people who are not actively participating in meaningful economic activity.
Did the Bank of England intervene and perform its Lender of Last Resort responsibility to end the panic in August 2007?
A) yes B) no C) yes, only after a bank run and under pressure from the British financial industry D) no, since such support would present a moral hazard problem E) no, despite intense pressure from the chancellor of the exchequer