If the government were to intervene and set a wage for unskilled labor above the market wage, then we would expect, relative to the market outcome,
a. an increase in the number of unskilled jobs available.
b. a decrease in the number of unskilled jobs available.
c. a decrease in the number of workers wanting unskilled jobs.
d. None of the above is correct.
b
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Large denomination time deposits are the difference between ________ and ________.
Fill in the blank(s) with the appropriate word(s).
Explain what factors determine the expected return on a foreign bond
What will be an ideal response?
Joey cuts lawns during the summer. Let q equal the number of acres mowed per day, and let L equal the number of hours worked per day
Joey never works more than eight hours per day, and during that time his short-run production function is q = 0.2 ? L. Which of the following statements is FALSE? A) Joey's marginal product equals his average product. B) Joey's marginal product diminishes by 0.2 for each additional hour worked. C) Joey's average product is constant. D) Joey's marginal product is constant.
A firm faces competitive markets for its inputs and its output. At the profit maximizing level of output, its marginal cost is $10 and the wage paid is $2. If the MPL = L-0.5, how many workers will be hired by the firm?
A) 35 B) 40 C) 25 D) 5