Total efficiency units of labor in an economy increases if ________
A) the average number of hours worked by each worker decreases
B) each worker becomes more productive
C) each worker earns a lower wage
D) the amount of capital available to each worker diminishes
B
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Most economists today believe that the Phillips curve is
A. vertical in the short run but downward sloping in the long run. B. upward sloping in the short run but vertical in the long run. C. downward sloping in the short run but vertical in the long run. D. vertical in the short run but upward sloping in the long run.
In the above figure, an innovation that increases the demand for high-skilled workers and decreases the demand for low-skilled workers will
A) reduce the amount by which WH exceeds WL. B) increase the amount by which WH exceeds WL. C) shift the SH curve leftward. D) shift the SL curve rightward.
Unemployment insurance programs provide benefits to permanently unemployed people
a. True b. False Indicate whether the statement is true or false
How much pollution should we emit?
A. To a level where MB is greater than or equal to the MC B. To a level where MC is greater than the MB C. Zero D. A fair amount of pollution