The table above gives information about the labor market in Lantis, a community in which the labor market is perfectly competitive
If the demand for labor decreases by 200 hours per day, the equilibrium wage rate falls to ________ an hour and the quantity of labor employed ________ hours per day. A) $10; remains at 400
B) $10; decreases to 300
C) $20; increases to 400
D) $5; remains at 200
B
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When Americans decrease their demand for Japanese goods
A) the supply of dollars will fall, and the demand for yen will fall. B) the supply of dollars will rise, and the demand for yen will rise. C) the demand for dollars will rise, and the demand for yen will rise. D) the demand for dollars will fall, and the demand for yen will rise.
Suppose Bank X is holding total cash reserves of $32,000 on deposits of $90,000 . If the reserve requirement is 15 percent, then the excess reserves held by this bank is:
a. $27,200. b. $58,000. c. $4,800. d. $13,200. e. $18,500.