The board of education of a school district faced with a surplus of teachers, but unable to lower salaries because of union contracts, will
A) be unable to balance the quantity supplied with the quantity demanded.
B) have to hire fewer teachers than it wants to.
C) have to hire more teachers than it wants to.
D) tend to have relatively few young teachers on its payroll.
D
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Today, ________ of shoes sold in the United States are made overseas?
A) almost 75 percent B) 99 percent C) just over half D) about 25 percent
Two goods are considered substitutes if
a. a decrease in the demand for one leads to a decrease in the supply of the other. b. an increase in the demand for one leads to a decrease in the supply of the other. c. an increase in the price of one leads to an increase in the demand for the other. d. a decrease in the price of one leads to an increase in the demand for the other. e. a decrease in the supply of one leads producers to switch to production of the other.
Exhibit 8-15 Short-run cost curves for E-Z Care lawn mowing company
In Exhibit 8-15, what market price would cause E-Z-Care to just break even?
A. $6 per lawn. B. $8 per lawn. C. $12 per lawn. D. $16 per lawn.
According to the theory of comparative advantage, ________ raise(s) productivity by lowering opportunity costs.
A. economic growth B. investment in capital goods C. exchange and consumption D. trade and specialization