The most common way to collect job information is _____.
A. interview incumbents
B. ask incumbents to fill out a questionnaire
C. ask supervisors to fill out a questionnaire
D. the PAQ
B. ask incumbents to fill out a questionnaire
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If the supply of labor in a purely competitive labor market increases, then the product
A. demand curve will shift to the left. B. supply curve will shift to the left. C. supply curve will shift to the right. D. demand curve will shift to the right.
Falling transportation costs in the 19th century
a. fostered regional specialization according to comparative advantage. b. created increasing lags for price declines along the Mississippi. c. propelled the process of western expansion. d. All of the above. e. Both a and c are correct.
Kathy has eaten five cookies. The fifth cookie makes Kathy sick. This means that for Kathy
A) the fifth cookie has little utility. B) the fifth cookie has negative utility. C) the opportunity cost of cookies is high. D) cookies must be inexpensive.
If we use a narrow definition of monopoly, then a monopoly is defined as a firm
A) that has been granted special production rights by the government. B) that can ignore the actions of all other firms because it produces a superior product compared to its rivals' products. C) that can ignore the actions of all other firms because it produces a product for which there are no close substitutes. D) that has the largest market share in an industry.