How might a decrease in the labor force participation of males be related to the increase in the participation rate for females?
What will be an ideal response?
To some extent, increased female employment means fewer job openings available to male workers. An increase in the number of female job seekers reduces the expected benefit of job search for a male. More significantly, both higher income and reduced "leisure" time among females raise the value of "leisure" among males.
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If one country's wage level is very high relative to the other's (the relative wage exceeding the relative productivity ratios), then if they both use the same currency
A) neither country has a comparative advantage. B) only the low wage country has a comparative advantage. C) only the high wage country has a comparative advantage. D) consumers will still find trade worth while from their perspective. E) it is possible that both will enjoy the conventional gains from trade.
Due to federal funding rules, average per pupil expenditures varied across states by no more than $3,000
Indicate whether the statement is true or false
Explain how the gold standard operated
What will be an ideal response?
Answer the following questions true (T) or false (F)
1. The production possibilities frontier represents the technically efficient combination of two products a business can produce in the current period given its existing resources and technology. 2. The price of the product and marginal revenue are identical under conditions of perfect competition. 3. The marginal rate of product transformation represents the slope of the production possibilities frontier.