An increase in labor productivity would cause a rightward shift of the labor demand curve.
Answer the following statement true (T) or false (F)
True
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Expected utility theory predicts that individuals will fully insure in actuarily fair markets so long as their tastes are state-independent. How might adverse selection result in some individuals under-insuring?
What will be an ideal response?
In the late 19th and early 20th century, the relative earnings of foreign workers were ________________ the earnings of native workers after adjusting for differences in schooling, skills and other factors
a. approximately equal to b. much less than c. slightly greater than d. much greater than
Consider the demand curve for bananas. If the price of bananas falls, which of the following occurs?
a. The demand curve shifts to the right. b. The quantity demanded declines. c. The demand curve shifts to the left. d. The quantity demanded increases.
The market price can sometimes be difficult to identify due to which of the following?
A. Sale prices and negotiated prices B. The laws of supply and the law of demand C. Equilibriums and opportunity costs D. Satiation and zero prices