If the existence of alternative opportunities makes people become less willing to work in poultry processing plants, then the real wage of unskilled workers in poultry processing plants is predicted to ________ and the employment of unskilled workers in poultry processing plants is predicted to ________.
A. increase; decrease
B. decrease; decrease
C. increase; not change
D. increase; increase
Answer: A
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The classical framework is based on which of the following assumptions?
A) many firms in the economy B) no single firm can control prices C) in the long-run the quantity of factors supplied must be equal to the quantity of factors demanded D) all of the above E) none of the above
If the business taxes decreased for a firm, then we might expect investment spending to:
A. remain constant. B. decrease. C. increase. D. there is not enough information to determine what would happen.
A decrease in the number of sellers in the market causes a. the supply curve to shift to the left
b. the supply curve to shift to the right. c. a movement up and to the right along a stationary supply curve. d. a movement downward and to the left along a stationary supply curve.
The ability to use price discrimination is ______.
a. available only to government regulated firms b. exclusive to government-owned monopolies c. available to all firms who are currently profitable d. available only to firms with market power