A horizontal supply curve of labor implies that
a. lower wages are required to attract more employees
b. higher wages are required to attract more employees
c. MPP is constant
d. any quantity of workers can be hired at the same wage
e. the total labor cost curve is horizontal
D
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An ethanol producer purchases 10 futures contract of corn for delivery in December for a price of $4/bushel.What is the total gain or total loss to the ethanol producer if the price then increases to $5/bushel?
A. Total gain of $250,000. B. Total loss of $50,000. C. Total gain of $50,000. D. Total loss of $200,000.
Based on the CBO's projections of governments revenue and expenditure, if entitlement programs remain large and unfunded, the current fiscal policy of the federal government
A) will lead to a larger, but sustainable debt-to-GDP ratio. B) will have to become more expansionary to remain sustainable. C) is not sustainable. D) will still keep the debt-to-GDP ratio relatively stable.