A 45-degree line on a graph with expenditures, E, on the vertical axis and production, Y, on the horizontal axis, represents
A) the line of disequilibrium levels of income.
B) all possible equilibrium levels of production and expenditures.
C) some of the equilibrium levels of production and expenditures.
D) None of the above.
B
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The ________ the expected future exchange rate, the greater is the expected profit from holding dollars and so the ________
A) higher; demand curve for dollars shifts rightward B) lower; supply curve of dollars shifts rightward C) higher; demand curve for dollars shifts leftward D) higher; supply curve of dollars shifts rightward E) lower; demand curve for dollars shifts leftward
Refer to the given data. The labor supply curve facing firms is:
Use the labor demand data on the left and the labor supply data on the right in answering the following question:
A. such that it does not intersect the labor demand curve.
B. upsloping.
C. perfectly inelastic.
D. perfectly elastic.