Structural unemployment results in a ________ of labor which should theoretically be reduced by a(n) ________ in the wage rate
A) surplus; decrease
B) surplus; increase
C) shortage; decrease
D) shortage; increase
A
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"If the currency drain increases, the monetary base decreases." Explain whether the previous statement is correct or incorrect
What will be an ideal response?
If a firm faces a labor supply curve that is positively sloped, then the marginal cost of labor curve
A) equals the wage rate. B) equals the minimum wage. C) lies above the value of marginal product curve. D) lies above the labor supply curve.
Firms free ride on the research and development of other firms when they
A) buy a firm's newly developed product, and then give it away to consumers. B) choose a level of research and development that is inefficiently high. C) license a new technology from a firm that developed the new technology. D) use knowledge other firms have developed without paying for that knowledge.
The result of the reunification of eastern and western Germany in 1990
A) was a boom in Germany and higher inflation, with no effect on nearby countries. B) was a recession in Germany and lower inflation, with no effect on nearby countries. C) was a boom in Germany and higher inflation, and, with other EMS countries' commitment to fixed exchange rates, a deep recession in nearby countries. D) was a recession in Germany and lower inflation, and, with other EMS countries' commitment to fixed exchange rates, a deep recession in nearby countries. E) was a recession in Germany and lower inflation, causing a boom in nearby countries.