The labor force in the United States includes
A. discouraged workers.
B. those between ages 12 and 16 who are actually working.
C. those over the age of 16 who are employed or are seeking employment.
D. all of these.
Answer: C
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Refer to above figure. With a specific tariff of $3 per unit, what is the quantity of Widgets consumed domestically?
What will be an ideal response?
Once a nation has been producing a good or service for some time,
a. its supply curve for that product is vertical b. its supply curve for that product is horizontal at the world price c. it often develops a comparative advantage in producing that good or service d. its moves along its production possibilities frontier and produces more of it e. its production possibilities frontier shifts outward
If the government levies a $1,000 tax per boat on sellers of boats, then the price paid by buyers of boats would
a. increase by more than $1,000. b. increase by exactly $1,000. c. increase by less than $1,000. d. decrease by an indeterminate amount.
Recall the Application about the free-agent market for professional baseball pitchers to answer the following question(s).Recall the Application. The market for baseball pitchers suffers from an asymmetric information problem because:
A. the pitcher's current team has superior information concerning the health of the pitcher. B. the potential new teams have superior information concerning the health of the pitcher. C. baseball teams never sign injury-prone pitchers. D. a physical exam ensures that both the player's current team and potential new teams have the same information concerning the player's health.