In Figure 30.1, the labor supply could shift from S1 to S2 due to all of the following except
A. A decrease in the attraction of leisure activities.
B. An increase in the number of workers willing to work in this labor market.
C. Fewer workers preferring to work in this labor market.
D. A decrease in the payroll tax on workers.
Answer: C
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The term “satisficing” indicates an optimal choice.
Answer the following statement true (T) or false (F)
A recent college graduate who is looking for her first job would be considered _____
a. a discouraged worker b. underemployed c. overemployed d. unemployed e. not in the labor force
epublicans often argue in favor of what to push the economy toward economic recovery, as they did during the recession that began in 2008?
A. Tax cuts B. Increase government spending C. Decrease government spending D. Encourage the public to save more
Some people refuse to buy Japanese cars because they believe it is anti-American. Others refuse to buy American cars because they believe that Japanese cars are superior. In this highly competitive market, the Mitsubishi Eclipse and Eagle Talon, which have identical engines, transmissions, bodies and paint, are a good example of
a. goods belonging to two separate markets b. complementary goods c. perfect competition d. product differentiation e. barriers to entry