Suppose that the wage for teachers decreases relative to other occupations. We know that ________ people will work as teachers, and the total number of hours worked will ________.
A. more; increase
B. more; decrease
C. fewer; increase
D. fewer; decrease
Answer: D
You might also like to view...
If the marginal tax rate is less than the average tax rate as taxable income increases, the tax structure is
A) proportional. B) progressive. C) unfair. D) regressive.
A spending shock
a. causes unemployment and inflation to change in the same direction b. results in a movement along the AD curve c. shifts the AS curve d. first affects the economy through the money market e. causes equilibrium GDP to change at each price level
If one country has the ability to produce all goods and services more efficiently than any other country, then:
A) there is no benefit to be derived from trading. B) there is still benefit to trading because the advantages to trade depend on comparative advantage and not on an absolute ability to produce more efficiently. C) it should not trade but should isolate itself from the less productive rest of the world. D) it must be a very large country.
Which of the following has been one of the most productive sectors of the U.S. economy through the 19th, 20th and 21st centuries?
A. Textiles B. Steamships C. Steel D. Agriculture