One of the sources of cyclical unemployment is _____
a. flexible wages
b. sticky downward wages
c. the constant movement of workers between jobs
d. the fundamental changes in the nature of an economy
b
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Refer to Scenario 12.3. What will be the price of this new drink in the long run if the firms in the industry collude with one another to maximize joint profit?
A) $3 B) $9 C) $12 D) $16.50 E) none of the above
If a monopsonist discovers that the MLC is $6 and the MRP is $3, she should
a. hire more workers and pay them more b. hire fewer workers and pay them more c. hire more workers and pay them less d. hire fewer workers and pay them less e. keep hiring the same number of workers at the current wage
A sales tax is usually considered to be a
A. flat tax. B. regressive tax. C. progressive tax. D. proportional tax.
The productivity of workers can depend upon which of the following?
A. Human capital B. Technology C. Natural resources D. All of these are determinants of productivity.