The working-age population is divided between those people in the labor force and those people unemployed
Indicate whether the statement is true or false
FALSE
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In a market characterized by many buyers and one seller, investment in informative advertising by a seller can ____ the price of a commodity to customers and lower their _____ cost of acquiring information
a. decrease; sunk cost b. increase; transaction cost c. increase; sunk cost d. decrease; transaction cost
For each watch Switzerland produces, it gives up the opportunity to produce 50 pounds of cheese. Germany can produce one watch at a cost of 100 pounds of cheese. Which of the following is true?
a. The opportunity cost of producing watches is lower in Switzerland. b. The opportunity cost of producing cheese is lower in Switzerland. c. The opportunity cost of producing watches is the same in both countries. d. It is impossible to compare costs because the two countries are not the same size. e. In Germany, the cost of a pound of cheese is one watch.
To the degree that the Plumbers and Steamfitters union conducts costly training and apprentice requirements for prospective electricians, it is
A. shifting the supply of plumbers to the left. B. shifting the demand for plumbers to the left. C. shifting the supply of plumbers to the right. D. kinking the supply of plumbers to make it vertical at the level of the constraint.
The Darity-Myers thesis states that
A. he heritage of slavery is largely to blame for black poverty. B. welfare dependency creates a culture of poverty. C. black men have become less useful in the emerging economic order and have become marginalized. D. the root problem of black poverty is the high pregnancy rate of unmarried teenage girls.