Suppose that a large number of U.S.actuaries decide to take employment in Europe due to better benefits and work environments at European companies. How does the demand or supply curve shift?
What will be an ideal response?
Answer:
supply curve shifts up or left
As actuaries leave the U.S. actuarial industry for the European actuarial industry, the labor supply of actuaries in the United States will decrease, shifting the labor supply curve for actuaries to the left.
Economics
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The multiple by which the commercial banking system can expand the supply of money is equal to the reciprocal of:
A. the MPS. B. its actual reserves. C. its excess reserves. D. the reserve ratio.
Economics
Refer to the graph below. It shows the cost curves for a competitive firm. If the market price of the product is $1.05 per unit, then the firm will produce how many units in the short run?
A. Between 0 and 15
B. Between 15 and 20
C. Between 20 and 35
D. Above 35
Economics