in recent decades labor markets in European countries like italy and spain have been
What will be an ideal response?
more highly regulated and the unemployment rates of european countries have been higher than the United States
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Answer the following statement(s) true (T) or false (F)
1. The major reason education leads to higher wages is due to signaling. 2. Attending college can be seen as an individual’s attempt to raise their level of human capital. 3. Since mowing ones lawn is not done at their workplace, it is viewed as a use of their leisure time and thus (somewhat paradoxically) falls into the category of leisure. 4. One deficiency of labor-leisure indifference curve analysis is that because indifference curves are always tangent to the worker’s budget line, the model can not explain why some people choose not to work. 5. A firm’s marginal revenue product of labor equals the marginal product of labor times the cost per unit of the labor.
According to this Application, the policies used by the European Union to support the agricultural sectors of its member countries created excess supply
This would occur if these policies set a ________ price which was ________ the market equilibrium price. A) maximum; below B) minimum; above C) maximum; above D) minimum; below
What is "tax incidence"? What determines tax incidence in a competitive market?
What will be an ideal response?
A firm is currently producing1140 units of output according to the production function q = L4/3K1/2 and faces input prices equal to w = $20 and r = $80. In the short run, capital is fixed at 5 units. In the long run, the firm's costs are
A) lower because the firm substitutes towards more labor and away from capital. B) lower because the firm substitutes towards more capital and away from labor. C) higher because the firm substitutes towards more labor and away from capital. D) higher because the firm substitutes towards more capital and away from labor.