The determinants of labor supply include:
A. supply of other factors and output prices.
B. other opportunities and technology.
C. culture and technology.
D. culture and other opportunities.
Answer: D
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) After immigration occurs, total business income in country B:
A. Increases by $475M
B. Increases by $50M
C. Decreases by $50M
D. Decreases by $475M
The payments system is
A) the method of conducting transactions in the economy. B) used by union officials to set salary caps. C) an illegal method of rewarding contracts. D) used by your employer to determine salary increases.
Which of the following was one the key factors sending the economy into the Great Recession?
a. declining home prices and rising foreclosure rates b. declining interest rates and declining lending c. declining labor participation rates and rising retirement rate d. none of the above were reasons for the Great Recession
The external marginal cost of producing coal is MCexternal = 6Q while the internal marginal cost is MCinternal = 4Q. The inverse demand for coal is given by P = 120 ? 2Q. How much output would a monopoly produce?
A. 15 B. 10 C. 20 D. It cannot be determined because of incomplete information.