If the price of airline tickets falls, what will happen to the demand curve for flight attendants?
a. It will shift to the right.
b. It will shift to the left.
c. The direction of the shift is ambiguous.
d. It will remain unchanged.
B
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What is purchasing power parity?
What will be an ideal response?
One of the common arguments against "sweatshops" in developing countries is that wages that the workers are being paid are too low. Commentators often use dollar comparisons to show that, compared to U.S
standards, "sweatshop" workers are paid unfairly low wages. Use what you have read about the supply of labor to examine this argument.
Zara is the largest fashion retailer in Europe. Which of the following would not a barrier to entry that protects Zara's market power?
a. two weeks to develop and deliver a new item, as opposed to an industry average of nine months b. 10,000 new designs a year c. stores can restock in a few days d. little advertising e. new fashions distributed twice a week, as opposed to twice a season
A productive efficient society
A) produces at a point on its PPF. B) can produce more of one good only by giving up some of another good. C) cannot produce unlimited amounts of a good. D) still has to make choices. E) all of the above