Which of the following would likely occur if a larger number of highly skilled workers were allowed to immigrate to the U.S.?
a. The average wage for highly skilled workers would decline.
b. The average wage for highly skilled workers would increase.
c. The supply curve for highly skilled workers would shift to the left.
d. The demand curve for highly skilled workers would flatten out.
a. The average wage for highly skilled workers would decline.
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Apple continues to be innovative to ensure that their demand curve stays or becomes
a. More inelastic b. More elastic c. Unitary elastic d. None of the above
The government would use production taxes to remedy the problem of substantial:
a. internal benefits of production. b. external benefits of production. c. external costs of production. d. external benefits of consumption e. external costs of consumption.
Cost plus pricing is
A) consistent with profit maximization. B) generally inconsistent with profit maximization. C) the same as peak-load pricing. D) used in product line extensions.
Which of the following limits the ability of the current system of transfer programs to increase the incomes of the able-bodied poor?
a. The high implicit marginal tax rates that accompany the current income transfer programs reduce the incentive of the poor to earn. b. The transfer programs encourage the poor to marry and form dual-earner families. c. The transfer programs tend to increase the wages that employers are required by law to pay for low-skill labor. d. The transfer programs reduce the likelihood of single-parent families.