Technological advances can cause the labor demand curve to shift
a. True
b. False
Indicate whether the statement is true or false
True
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Based in part on the budget surplus, in 2001 President Bush and Congress passed a permanent tax cut
Indicate whether the statement is true or false
Refer to the figure above. Which of the following methods is the best to compensate the losers from opening Lithasia to international trade?
A) Sellers in Lithasia could be taxed and the revenue could be used to compensate buyers. B) Buyers in Lithasia could be taxed and the revenue could be used to compensate sellers. C) Both buyers and sellers could be taxed and the revenue could be retained by the government. D) The sellers in Lithasia could sell the pens at a price above the equilibrium price in the domestic market.
The figure above shows a labor market. If this labor market is perfectly competitive, the wage rate is
A) $4 per hour. B) $6 per hour. C) $8 per hour. D) $10 per hour.
Gross federal debt in 2005 was approximately what percent of 2005 GDP?
a. 5 percent b. 25 percent c. 40 percent d. 50 percent e. 90 percent