In the efficiency wage model with the efficiency wage above the market-clearing wage, when employment is at its full-employment level,
A. labor supply equals labor demand.
B. there could be either an excess demand for, or an excess supply of, labor.
C. there is an excess supply of labor.
D. there is an excess demand for labor.
Answer: C
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Which of the following is an allowable deduction?
A. Unreimbursed medical expenses that exceed 7.5% of AGI B. State and local income and property taxes C. Interest on qualified education loans up to a certain limit D. All of the answer options are correct.
One way that governments can improve market outcomes is to ensure that individuals are able to own and exercise control over their scarce resources
a. True b. False Indicate whether the statement is true or false
A "backflow" refers to:
A. Unauthorized aliens who enter an industrialized nation looking for work B. Legal aliens who enter an industrialized nation looking for work C. Migrants who enter a series of industrialized nations looking for work D. Migrants who repeatedly return to their home countries after seeking work in another country
General Motors estimates that U.S. demand for its newest product will be: Qus = 30,000 - 0.5P. Export demand will be Qex = 25,000 - 0.5P. The total market demand curve for this product will be a
A) straight line with a slope of -0.5. B) straight line with a slope of -1.0. C) kinked line with the kink at Q = 25,000. D) kinked line with the kink at P = 50,000. E) none of the above