If many of the workers who become unemployed as a result of a recession are retail workers:
A. they will return to employment once the government announces its stimulus and consumer confidence returns.
B. the retail sector is likely to remain permanently smaller.
C. the government likely will be unable to target its stimulus spending for these workers.
D. the government will have to rely on targeting "retail-ready" projects for stimulus spending.
Ans: C. the government likely will be unable to target its stimulus spending for these workers.
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If the inflation rate in the United States is higher than that in Mexico and productivity is growing at a slower rate in the United States than in Mexico, then, in the long run, ________, everything else held constant
A) the Mexican peso will appreciate relative to the U.S. dollar B) the Mexican peso will depreciate relative to the U.S. dollar C) the Mexican peso will either appreciate, depreciate, or remain constant relative to the U.S. dollar D) there will be no effect on the Mexican peso relative to the U.S. dollar
A profit-maximizing monopolist produces an output level that is allocatively inefficient because
a. price is greater than marginal cost b. price is less than marginal cost c. marginal revenue is greater than marginal cost d. marginal revenue is less than marginal cost e. consumers wish to purchase all that is produced
In a perfectly competitive labor market
a. all firms are wage takers b. all firms are wage searchers c. all firms sell their output at a constant price d. none of the firms that demand labor can be monopolists e. some firms may be able to influence the wage rate as long as most firms cannot
Consider two people, Sandy Roos, who earns $25,000 . and Gary Behrman, who earns $50,000 . If the government has decided to tax everyone's first $25,000 at 20 percent and everyone's second $25,000 at 40 percent, then
a. Gary and Sandy both pay taxes of the same percentage of total income b. Gary and Sandy pay the same amount of taxes c. Gary pays twice the tax amount Sandy pays d. Gary pays three times the tax amount Sandy pays e. Sandy does not pay taxes