How mobile is Europe's labor force?
What will be an ideal response?
Differences in language and cultural discourage labor movements between European countries. Differences in regional unemployment rates are smaller and less persistent in the United States than are differences between national unemployment rates in the European Union. Even, within European countries, labor mobility appears limited, partly because of government regulations. For example, the requirement in some countries that worker establish residence before receiving unemployment benefits makes it harder for unemployed workers to seek jobs in regions that are far from their current homes.
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The sum of the marginal propensity to consume (MPC) and the marginal propensity to save (MPS) is
A) equal to one. B) greater than one. C) negative. D) less than one.
If the price is below $130, what will the firm do (a) in the short run? (b) in the long run?
Mark Frost grows apples in a perfectly competitive market. If we drew a line in a graph that illustrates Mark's total revenue from selling apples, it would be
A) a straight, upward-sloping line. B) a horizontal line. C) a straight, downward-sloping line. D) a curve that is negatively sloped at low levels of output and positively sloped at higher levels of output.
If the demand for CD players decreases and the supply of CD players decreases, then
A) it is clear that prices will decrease, the change in the quantity of CD players sold is ambiguous. B) it is clear that prices will increase, the change in the quantity of CD players sold is ambiguous. C) it is clear that quantity sold will decrease, the change in the price of CD players is ambiguous. D) it is clear that change in quantity sold is ambiguous, the change in the price of CD players is ambiguous.