A firm hiring labor in a perfectly competitive labor market faces a:
A. downsloping labor supply curve and upsloping labor demand curve.
B. upsloping labor supply curve and downsloping labor demand curve.
C. upsloping labor supply curve and horizontal labor demand curve.
D. horizontal competitive wage curve and downsloping labor demand curve.
Answer: D
Economics
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If the money demand function is given by Md = 10 + 0.2Y ? 10r then a 10-unit increase in the quantity of money will cause the LM schedule to shifts to
a. to the right by 10 units. b. the right by 50 units. c. to the left by 40 units. d. to the left by 50 units. e. to the right by 40 units.
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