Which of the following is an example of comparative statics?
A) The estimation of the supply of a good when the wage rate of labor changes from $30 to $10 per hour
B) The estimation of the ideal number of workers a firm should hire when wage rate is $20 per hour
C) The estimation of the quantity demanded of a good when its price is $5
D) The estimation of the demand for a particular good when consumer income is $10
A
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Suppose the government of a town of 2,000 people implements a tax on each of 5 people in a small neighborhood to raise $1,000 for a sculpture that will be placed in the common area of that 5-person neighborhood
Each of the 5 people in the small neighborhood will receive $120 in benefits from the sculpture. This tax is likely to A) generate a great deal of opposition from taxpayers. B) generate a great deal of opposition from the 5 people in the affected neighborhood. C) generate little opposition from the 5 people in the affected neighborhood. D) generate the desirable social outcome.
Workers who suffer disability are likely to suffer higher ________
A) cyclical unemployment B) tertiary unemployment C) structural unemployment D) natural unemployment
One reason for the recent increases in health care costs is the aging of the American population.
A. True B. False C. Uncertain
Human capital is the
a. knowledge and skills that workers acquire through education, training, and experience. b. stock of equipment and structures that is used to produce goods and services. c. total number of hours worked in an economy. d. same thing as technological knowledge.