Which of the following could explain an increase in demand for labor?
a. additional training that increases the productivity of each unit of labor in this market
b. an increase in the amount of risk associated with this job
c. a decrease in the amount of risk associated with this job
d. an improvement in the working conditions associated with this job
e. a decline in the working conditions associated with this job
A
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The equilibrium price of a good occurs if the
A) quantity of the good demanded equals the quantity of the good supplied. B) quantity of the good demanded is greater than the quantity of the good supplied. C) quantity of the good demanded is less than the quantity of the good supplied. D) demand for the good is equal to the supply of the good. E) price of the good seems reasonable to most buyers.
Which of the following stands true for the determinants of growth?
a. The long-run aggregate supply curve is a horizontal line at the potential level of real GDP. b. Land can be combined with labor and capital to produce goods and services. c. The labor force typically grows more rapidly in industrial countries than in developing countries because birth rates are higher in industrial countries. d. The ability of a country to invest in capital goods is tied to its ability to spend. e. The size of the labor force is a function of the size of the youth in the population and the percentage of that population that is in the labor force.
Which of the following is the best example of what happens when an equilibrium point is reached?
A. A store that sells its televisions for $999 lowers its price to 899 B. All the stores in a city are selling a certain model of television for 899$ C. some customers decide $899 is too high ad buiy a lower-cost television D. The number of tellevision available at $899 is the same as the number of sales
A dollar-amount increase that has not been adjusted for inflation is called
A. a real increase. B. an inflationary increase. C. a net increase. D. a nominal increase.