Which of the following statements is TRUE about the market and individual firm's supply curve for labor?
A) The market supply curve is perfectly elastic and the individual firm's supply curve is perfectly inelastic.
B) The market supply curve is perfectly inelastic and the individual firm's supply curve is perfectly elastic.
C) The market supply curve is more elastic than the firm's supply curve.
D) The market supply curve is more inelastic than the firm's supply curve.
Answer: D
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a. replacement strategy. b. market-oriented strategy. c. inward-oriented strategy. d. outward-oriented strategy. e. future-oriented strategy.
Michal Levhari lost her job when Intel closed its local plant. She has been visiting the personnel offices of the other factories in the area, looking for a new job. She is regarded as being
a. a member of the labor force who is theoretically employed b. a member of the labor force who is unemployed c. a member of the labor force who is underemployed d. a discouraged worker who is not a member of the labor force e. not a member of the labor force
Some college students have claimed that because their incomes will be higher as a result of attending college, there is no opportunity cost of attending college. Do you agree? Explain
Explain the three kinds of time lags that make it difficult to use fiscal policy to stabilize the economy.
What will be an ideal response?