A decline in the wage rate would
A. raise the quantity of labor demanded.
B. lower the quantity of labor demanded.
C. increase the demand for labor.
D. decrease the demand for labor.
A. raise the quantity of labor demanded.
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Native-born workers may not be harmed by immigration if:
A. They are complementary resources to immigrant workers B. They are substitute resources to immigrant workers C. Demand for their labor is elastic D. Immigrants remit their earnings to their home countries
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Six Flags Entertainment Cor
A) Some of the property owners might ask for more money than their property is worth and prevent the project from moving forward. B) The transactions costs of bargaining with the current landowners is likely to be quite low. C) The government would likely not use eminent domain in this situation since it involves a private corporation trying to acquire land from private landowners. D) The land must be undervalued for a large corporation like Six Flags to want to acquire it.
A goal of equality of income can be justified based on the utilitarian idea that _____
a. individuals face diminishing marginal utility of income b. social welfare functions are convex to the origin c. rich people have more than they every could need d. redistribution does not lead to an increased excess burden of taxation