During a recession the economy experiences
a. rising employment and income.
b. rising employment and falling income.
c. rising income and falling employment.
d. falling employment and income.
d
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A tax on suppliers will cause the ________ schedule to shift ________.
A. supply, right B. demand, right C. demand, left D. supply, left
In Lutheria, there are 10,000 people in the age group of 0-14, 30,000 people are employed, and 2,000 people are unemployed. Lutheria's GDP, measured in luthers, is 1 billion. Income per worker in Lutheria is:
A) 33,333 luthers. B) 23,667 luthers. C) 28,999 luthers. D) 10,000 luthers.
Refer to the figure above. Quota rents equal
A) $2000. B) $5000. C) $6000. D) $10000.
One of the benefits of specialization is
A. greater output. B. specialists cost less to hire. C. people enjoy doing one repetitive task over and over. D. training costs are higher.