Gerhardt is a bicycle mechanic, and he can repair 6 bikes a day at a market price of $25.00 . If he can't find any bike shop to hire him,
a. the wage rate must be more than $150 per day.
b. the wage rate must be less than $25 per day.
c. then Gerhardt's marginal revenue product must be negative.
d. the wage rate must be less than $150 per day.
e. then Gerhardt's marginal product must be negative.
A
Economics
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When a tax on a good starts small and is gradually increased, tax revenue will
a. rise b. fall c. first rise and then fall d. first fall and then rise e. do none of the above
Economics
If you deposit $300 in your bank and the required reserve ratio is 10%, your bank will have
A) an increase in required reserves of $300. B) an increase in required reserves of $270. C) an increase in required reserves of $3000. D) an increase in required reserves of $30 and an increase in excess reserves of $270.
Economics