Refer to the given data. If the wage rate is $11, how many workers will the firm choose to employ?

In the simple deposit expansion model, a decline in checkable deposits of $1,000 when the required reserve ratio is equal to 10 percent implies that the Fed

A) sold $1,000 in government bonds. B) sold $100 in government bonds. C) purchased $1,000 in government bonds. D) purchased $100 in government bonds.

If 20 smoothies are sold at a market price of $5.50 each, then

a. there must not be an excess supply of smoothies b. selling the 21st smoothie would be a Pareto improvement c. the market must be perfectly competitive d. the value to some individual of the 20th smoothie is $5.50 e. there must be an excess demand for smoothies