Government health and safety regulations or anti-discrimination laws can reduce real wages by:
A. decreasing the supply of labor.
B. increasing worker productivity.
C. reducing employer costs.
D. decreasing the demand for labor.
Answer: D
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The redistribution of income creates the big tradeoff, which is a tradeoff between ________
A) income and wealth B) equity and efficiency C) rich and poor D) Supplementary Security Income and the Food Stamp program
In regards to the uncommon length of the Great Depression, both Schumpeter and Higgs contend that:
a. private investment remained depressed in part due to the political climate created by the New Deal. b. Social Security and the freedoms granted to labor, along with a progressive tax structure promoted growth in private investment. c. the undistributed profits tax of 1936 encouraged businesses to undertake long-term investments. d. the New Deal rhetoric from President Roosevelt, offered a pro-business slant that offended labor groups.
Other things equal, assume consumer demand for children's toys increases. The result is a(n):
a. rightward shift in the market demand for labor curve in the toy industry. b. increase in the marginal revenue product of firms in the toy industry. c. increase in derived demand for workers in the toy industry. d. all of these.
World Wide Delivery Service Corporation develops a way to speed up its deliveries and reduce its costs. We would expect that this would
a. raise the demand for existing shares of the stock, causing the price to rise. b. decrease the demand for existing shares of the stock, causing the price to fall. c. raise the supply of the existing shares of stock, causing the price to rise. d. raise the supply of the existing shares of stock, causing the price to fall.