Alice has conducted a review of her company’s production processes and has identified one labor-intensive process. Which of the following processes did Alice identify as being labor intensive?
a. washing the strawberries with laser activated sprayers
b. loading the strawberries into trucks with large electronic conveyors
c. mechanically sorting the strawberries with an infrared scanner
d. hand-picking the strawberries and carrying them in baskets
d. hand-picking the strawberries and carrying them in baskets
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What would likely happen to the long-run aggregate supply curve if the U.S. federal government increases marginal tax rates on wages?
A) The LRAS curve would remain stable while the AD curve would shift leftward. B) The LRAS curve would remain stable while the AD curve would shift rightward. C) The LRAS curve would shift leftward. D) The LRAS curve would shift rightward.
Given that the demand for unskilled labor curve is downward-sloping, an unintended effect of raising the minimum wage is that some people who worked at the lower wage will lose their jobs at the higher wage.
Answer the following statement true (T) or false (F)
Negative externalities are created when
A) an increase in the price of butterfat drives up the price of ice cream. B) a driver leaves his car in a parking space after the meter expires and receives a ticket. C) a driver drives recklessly on a busy highway. D) a driver pulls over to help a stranded motorist fix a flat tire.
The maximum number of machines you would use is
A. 4.
B. 5.
C. 6.
D. 7.