A leftward shift of the supply curve for oil in the United States is most likely to result from:
A. A decrease in the fees that oil companies must pay for drilling licenses
B. An increase in the subsidy for oil exploration and drilling
C. A decrease in the world price of oil
D. An increase in the costs of exploration and drilling for oil
Answer: D
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Daryn and Nick work for two different companies, but each performs the same job working on a loading dock. Daryn, however, earns a higher salary than his friend Nick The difference in salary could illustrate union wages if Daryn's annual salary is covered by a collective bargaining agreement and Nick's is not
a. True b. False Indicate whether the statement is true or false
The competitive labor market model suggests that the persistence of significant employer discrimination requires the owners of the firm to
A. engage in collusion. B. hire a quantity of labor in which VMPL exceeds the wage rate. C. supply capital at a rate of return below what could be earned elsewhere. D. supply capital at a rate of return higher than what they could earn by investing their money elsewhere.
The lack of investment in developing countries is at least in part attributable to:
A. high levels of foreign aid. B. low levels of domestic savings. C. inappropriate education. D. overpopulation.
Define a sole proprietorship
What will be an ideal response?