Refer to Table 4-4. What is the equilibrium hourly wage (W) and the equilibrium quantity of labor (Q)?
A) W = 9.00; Q = 370,000 B) W = 9.00; Q = 740,000
C) W = 8.50; Q = 380,000 D) W = 8.50; Q = 360,000
Question 2
Refer to Figure 18-2. Which of the events below cause the shifts in the supply and demand curves in the market for dollars against the British pound shown in the graph above?
A) Interest rates rise in the United States. B) Real income falls in England.
C) Real income rises in the United States. D) Interest rates rise in England.
