Which of the following statements is true?
A) There will be no change in unemployment if there is a leftward shift in the labor demand curve and there is wage rigidity, everything else remaining unchanged.
B) Unemployment will be higher if there is a leftward shift in the labor demand curve and there is no wage rigidity, everything else remaining unchanged.
C) Unemployment will be higher if there is a leftward shift in the labor demand curve and there is downward wage rigidity in the labor market, everything else remaining unchanged.
D) There will be an increase in unemployment if there is a leftward shift in the labor demand curve and there is no wage rigidity, everything else remaining unchanged.
C
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A Pigouvian subsidy
A. cannot exist with externalities. B. is the same thing as a Pigouvian tax. C. is measured in terms of Pigouvian dollars. D. moves production to the socially optimal level of output.
Draw a graph showing the effect on the market of the imposition of a quantity restriction. Show the effect on consumer and producer surplus.
What will be an ideal response?
Copyrights, which grant special privileges to artists, musicians, and writers
A) destroy property rights. B) expand property rights. C) neither destroy nor expand property rights because they are part of the Bill of Rights. D) both destroy and expand property rights.
Business plan competitions at universities are simply the culmination of an academic exercise.
Answer the following statement(s) true (T) or false (F)