Which statement is false?
A. A firm's marginal revenue product curve for labor is its demand curve for labor.
B. Most desirable jobs are in the primary labor market.
C. Virtually no one today earns economic rent.
D. None of these statements are false.
C. Virtually no one today earns economic rent.
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In the figure above, which budget line has the lowest relative price of compact discs?
A) AD B) BD C) CD D) The relative price is equal for all three budget lines.
One goal of the European Common Market was to
a. abolish tariffs and import quotas among the member nations. b. abolish tariffs and import quotas between the member nations and the rest of the world. c. discourage the free movement of capital and labor among member nations. d. replace the North Atlantic Treaty Organization (NATO).
The first major piece of prolabor legislation was the
a. Wagner Act b. Norris-LaGuardia Act c. Landrum-Griffin Act d. Civil Rights Act e. Taft-Hartley Act
Opportunity cost:
a. has no relationship to the various alternatives that must be given up when a choice is made in the context of scarcity. b. represents the worst alternative sacrificed for a chosen alternative. c. represents all alternatives not chosen. d. represents the best alternative sacrificed for a chosen alternative.