According to the above figure, the market clearing wage rate is
A. We - Wm.
B. We.
C. Wm + We.
D. Wm.
Answer: B
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Regional specialization did not emerge in the colonies due to the small size of the cities and towns
Indicate whether the statement is true or false
Which of the following income maintenance programs is designed to establish nationwide minimum incomes for the aged, the blind, and the disabled?
A) the Old-Age Survivors' and Disability Insurance (OASDI) program B) the Supplemental Security Income (SSI) program C) the Temporary Assistance to Needy Families (TANF) program D) the food stamps program
Frictional unemployment is the result of
a. not enough jobs for everyone to be employed. b. unemployed workers' skills not matching those needed for the available jobs. c. a decline in the demand for labor, such as during a recession. d. imperfect information and temporary periods of unemployment while workers are changing jobs.
Elizabeth just finished a long run. The first glass of water was amazing, the second was good but not as good, and after the third she doesn't want any more. This is an example of what concept?
a. consumer surplus b. law of diminishing marginal utility c. elasticity of demand d. law of equilibrium