In the 1920s, American (non-farm) labor benefited from all of the following except:
a. low unemployment rates.
b. falling weekly work hours.
c. legal limits on immigration.
d. passage of federal minimum wage legislation.
d. passage of federal minimum wage legislation.
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Refer to Figure 15-10. Compared to a perfectly competitive market, consumer surplus is lower in a monopoly by an amount equal to the
A) area FGE. B) area FHE. C) area P1P2EF. D) area P1P2GF.
In the DMP model, an increase in the unemployment insurance benefit does not, under any circumstances
A) increase the vacancy rate. B) increase the unemployment rate. C) reduce labor market tightness. D) reduce the size of the labor force.
Oligopolistic firms are the only ones that consider their rivals' actions when making decisions about output and price
a. True b. False
Most American firms are corporations
a. True b. False Indicate whether the statement is true or false