Wages are comparatively low in markets where demand for labor is high and supply is low.
Answer the following statement true (T) or false (F)
False
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Which of the following is likely to shift the demand curve for coffee workers to the left, assuming all else equal?
A) An increase in the wage rate B) A decrease in the wage rate C) A decrease in the price of coffee D) An increase in the price of coffee
If marginal cost is increasing then: a. marginal product must be increasing
b. average variable cost must be increasing. c. average total cost must be increasing. d. none of the above must necessarily be true.
What kind of progress was made by developing countries to break into world markets for their exports of manufactures?
What will be an ideal response?
How does the imposition of an excise tax on a good affect its market equilibrium?
A. Equilibrium quantity increases, and equilibrium price decreases. B. Equilibrium quantity decreases, and equilibrium price increases. C. Equilibrium quantity decreases, and equilibrium price decreases. D. Equilibrium quantity increases, and equilibrium price increases.