A government report that makes working in a particular industry more attractive to workers will most likely ________ the number of workers hired in that industry, and ________ the wage paid to those workers.
A. increase; increase
B. increase; decrease
C. decrease; increase
D. decrease; decrease
Answer: B
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As a percent of GDP, the total U.S. federal debt has been declining since World War II
Indicate whether the statement is true or false
Scarcity affects
A) only rich people. B) only poor people. C) only middle income people. D) all people.
Wage elasticity of labor supply is a term referring to the
a. percentage change in wages demanded divided by the percentage change in wages supplied. b. percentage change in wages supplied divided by the percentage change in wages demanded. c. percentage change in wages divided by the percentage change in hours worked. d. percentage change in hours worked divided by the percentage change in wages.
Who benefits from an import quota on a good?
A) domestic consumers of the good B) foreign governments C) domestic producers of the good D) foreign producers of the good