Each of the following, except one, would lead to a rightward shift of the labor supply curve in a particular industry. Which is the exception?
a. increased preference for this type of work
b. increases in the demand for the good produced by labor
c. increases in the size of the population
d. reductions in the wage rates offered in alternative labor markets
e. reductions in the costs of acquiring human capital
B
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Is a coordination failure a type of market failure? Explain
What will be an ideal response?
If there are 50 firms in the industry, and each have an equal market share, the Herfindahl index will be equal to 1,00,000
a. True b. False Indicate whether the statement is true or false
The total labor force consists of: a. the entire population
b. the population over the age of sixteen. c. the number of officially employed persons. d. the number of officially employed persons plus the number of officially unemployed persons.
According to John Rawls, if people had to choose an income distribution without any knowledge of their own talents and abilities, they would likely prefer an income distribution that:
A. rewards hard work. B. rewards creativity. C. gives everyone an equal share. D. rewards innate intelligence