Which statement is false?
A. The primary labor market includes jobs in the skilled crafts, management, and the professions.
B. The dual labor market consists of the primary market and the secondary market.
C. The dual labor market theory doesn't account for the huge middle level of occupations—nursing, teaching, social work, and non-college-graduate positions in insurance, banking, and retailing.
D. None of the statements are false.
D. None of the statements are false.
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Workers and firms both expect that prices will be 3% higher next year than they are this year. As a result,
A) the short-run aggregate supply curve will shift to the left as wages increase. B) the purchasing power of wages will rise if wages increase by 3%. C) workers will be willing to take lower wages next year. D) aggregate demand will increase by 3%.
The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically competitive firm will:
a. produce the output level at which price equals long-run marginal cost. b. operate at minimum long-run average cost. c. overutilize its insufficient capacity. d. produce the output level at which price equals long-run average cost.
Productivity in the services industry may be underestimated because ____ may not be taken into account
a. the labor costs of providing a service b. the quantity of the service produced c. the capital costs of providing a service d. the prices charged by service industries e. the quality of the service provided
Answer the following statements true (T) or false (F)
1. The issue is not so much whether globalization will pressure low-income countries to reduce their environmental standards, but instead whether the threat of blocking international trade can pressure these countries into adopting stronger standards. 2. Environmental protection is vital to two industries of key importance in many low-income countries—agriculture and tourism. 3. Few nations belong to both the World Trade Organization and regional trading agreements. 4. The disruption caused by international trade is fundamentally different from all the other disruptions caused by the other workings of a market economy.