As methods of economic organization, the market and the public sector are similar in which of the following ways?
a. Income and power are distributed equally in both sectors.
b. In both sectors, economic activity is undertaken only when it satisfies the criterion for economic efficiency.
c. In both sectors, economic exchange is completely voluntary.
d. Someone must cover the cost associated with the provision of scarce goods in both sectors.
D
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Banks can obtain funds to make loans by borrowing reserves from other banks through the federal funds market
Indicate whether the statement is true or false
Suppose the wage earned by pear pickers suddenly rises. Which of the following effects would we most likely observe as a result?
a. The supply of apple pickers would decrease and the equilibrium wage of apple pickers would decrease. b. The supply of apple pickers would decrease and the equilibrium wage of apple pickers would increase. c. The demand for apple pickers would increase and the equilibrium wage of apple pickers would decrease. d. The demand for apple pickers would decrease and the equilibrium wage of apple pickers would decrease.