Afutures contract a)is an agreement to buy or sell a specified amount of an asset at the spot price on the expiration date of the contract. b)is an agreement to buy or sell a specified amount of an asset at a predetermined price on the expiration date of the contract. c)gives the buyer the right, but not the obligation, to buy an asset some time in the future. d)is a contract to be signed in the future by the buyer and the seller of the commodity. e)none of the above.

Consider the labor market for heath care workers. because of the aging population in the united states, the output price for health care services has increased. holding all else equal, what effect does this have on the labor market for health care employees? a. the equilibrium wage increases and the equilibrium quantity of labor increases. b. the equilibrium wage increases and the equilibrium quantity of labor decreases. c. the equilibrium wage decreases and the equilibrium quantity of labor increases. d. the equilibrium wage decreases and the equilibrium quantity of labor decreases.