An implication of the fact that the labor market is perfectly competitive is that:
A) there is always some unemployment.
B) the labor demand curve is upward sloping and the labor supply curve is downward sloping.
C) the quantity of labor demanded always exceeds the quantity of labor supplied.
D) a worker willing to work at the equilibrium wage rate can instantly find work.
D
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The ability of a good or service to satisfy a want is known as
a. tangibility. b. desirability. c. utility. d. satisfying.
All of the following are potential benefits of defined contribution plans EXCEPT:
A) clear ownership rights to the balances of their 401Ks B) lower risk for employees C) if the employee's investments are profitable, the employee can have high income during retirement D) contributions to traditional 401Ks are tax deductible
Which of the following is true? a. The nature of public goods is such that the government cannot accurately assess the benefits of those affected. b. National defense and flood control are illustrations of public goods
c. Just as in the case of external costs, public goods tend to be underprovided by the private sector. d. All of the above are true.
An investment grows from $2,000 to $2,750 over the period of 10 years. What average annual growth rate will produce this result?
What will be an ideal response?