For an individual's supply curve of labor to be upward sloping:
a. the substitution effect must be greater than the income effect.
b. the substitution effect must be equal to the income effect.
c. the substitution effect must be less than the income effect.
d. is an impossibility.
a
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Union membership, in terms of percentage of the U.S. civilian labor force
A) has increased steadily since the passage of the Wagner Act. B) peaked about 1960 and has since declined. C) was over 50 percent in 1987. D) has increased dramatically since 1970.
The growth rate in potential GDP is equal to the growth rate in the population
a. True b. False Indicate whether the statement is true or false
William Safire argues that a unilateral free trade policy is a disaster if
a. the governments of the nations' trading partners practice "helpfulism." b. infant industries are allowed to expire. c. the national defense is endangered. d. it hurts the poor.
The breakfast cereals industry can be best modeled using the model of
A. monopoly. B. perfect competition. C. oligopoly. D. monopolistic competition.