The productivity slowdown in the United States can be explained by the use of social media, many are used for personal enjoyment rather than industrial productivity.
Answer the following statement true (T) or false (F)
True
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In the Keynesian model, the real wage is mildly procyclical because
A) demand for labor fluctuates with the demand for final goods. B) firms take advantage of recessions to pay slightly lower wages, since there's excess labor supply. C) workers' effort may depend on the unemployment rate and the real wage. D) the supply of labor fluctuates with the business cycle.
Suppose the market for a good is expressed as follows:
Inverse demand: P = 200 - 2Q Inverse supply: P = 2Q What is the equilibrium if the government imposes a supply quota of 75 units? What is the equilibrium if the government imposes a supply quota of 25 units?
If consumers have limited information about price and search costs exist, then
A) the result must be that all firms will charge the same price. B) the monopoly price must result. C) the full-information, competitive price is not an equilibrium. D) the difference in prices between firms will be greater than the search cost.
Which of the following statements is correct?
a. A disadvantage of a minimum-wage law is that it may benefit unskilled workers who are not low-income workers. b. A disadvantage of a negative income tax program is that a poor person who chooses not to work many hours would receive a cash benefit. c. A disadvantage of an Earned Income Tax Credit (EITC) is that a person who is unable to work due to a disability does not benefit from the program. d. All of the above are correct.