While unions represent only a fraction of the unskilled workers in the U.S. labor market, any wage increase won by unionized workers is most likely shared with non-union unskilled workers
a. True
b. False
Indicate whether the statement is true or false
False
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Security personnel are an important input into the production of major concerts, such as Lady Gaga, and Jay Z & Kanye West. If wages for security personnel rise, then we would expect
A) the supply of major concerts to be unaffected. B) the supply of major concerts to decrease. C) the supply of major concerts to increase. D) the demand for major concerts to increase.
In Figure 3-7 above, if natural real GDP = $2500, AP = $250, and the change in "a" = change in I = change in NX = 0, the tax cut required to achieve then natural real GDP is
A) $312.50. B) $250.00. C) $500.00. D) none of the above.
What was the typical policy of the British colonies toward the practice of "squatting" or freely settling and cultivating the land without any formal transfer of ownership?
(a) Squatting was encouraged by colonial officials as a way to encourage settlement of the land. (b) Squatting was discouraged by colonial officials because of the legal ownership of land by the Indians. (c) Squatting was generally discouraged by colonial officials; formal transfer of ownership to settlers was required because the British Crown and their designated officials claimed ownership to the land. (d) There was no general policy toward the practice of "squatting"; it was left to the individual settlers.
A decrease in the quantity of available resources would be represented by:
a. a steeper PPC. b. a point inside the PPC. c. an inward shift of the PPC. d. an upward movement along the PPC. e. a downward movement along the PPC.