With illegal immigration the unskilled labor supply curve:
a. shifts to the left.
b. becomes perfectly inelastic.
c. becomes perfectly elastic.
d. shifts to the right.
e. becomes non-existent.
d
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A cartel is an organization of firms in which there is a dominant firm which dictates price and output decisions to other member firms
a. True b. False Indicate whether the statement is true or false
What do clean air in New York City and elephants in Africa have in common?
a. They are both common resources. b. They are both public goods. c. They are both club goods. d. Both are excludable.
A perpetuity is distinguished from other bonds in that it
a. pays continuously compounded interest. b. pays interest only when it matures. c. never matures. d. will be used to purchase another bond when it matures unless the owner specifies otherwise.
The benefit that consumers get when they buy goods at the equilibrium price but were willing to pay more is called
A. Maximum price. B. Consumer surplus. C. Marginal utility. D. The law of demand.