Refer to the figures. Which of the following events would most likely result in higher unemployment?
A. A shift from D 2 to D 1 in Figure A.
B. A shift from D 2 to D 3 in Figure A.
C. A shift from D 2 to D 1 in Figure B.
D. A shift from D 2 to D 3 in Figure B.
C. A shift from D 2 to D 1 in Figure B.
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According to the "law" of demand, we would expect
a. the demand curve to be negatively sloped. b. the demand curve to be positively sloped. c. the total quantity demanded by the market to move in the same direction as price. d. marginal utility to increase as quantity demanded increases.
Which of the following is an example of capital?
A. Money B. A bulldozer C. A CD D. A U.S. Savings bond
Which of the following was an observable effect of the North American Free Trade Agreement (NAFTA)?
A. Imports of clothing and textiles into the member countries were diverted away from low-cost suppliers in Asia. B. NAFTA led to a substantial decrease in the volume of trade among the three member countries. C. There was massive shift of jobs toward Mexico. D. Low-cost firms in Canadian manufacturing industries were replaced by the high-cost firms.
A monopsonist that wants to hire more labor must pay more for the new labor than it is currently paying and increase the wage rate of all existing employees because
A) the demand curve for labor is inelastic. B) of labor unions. C) the supply of labor is upward sloping. D) of competition in the labor market.