Which of the following is likely to cause an upward movement along the labor supply curve assuming all else equal?
A) An increase in the labor population B) A rise in the wage rate.
C) A fall in the wage rate. D) A decrease in the labor population
B
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Within a monopolistically competitive industry
A) firms can freely enter and exit and economic profits are zero in the long run. B) firms can freely enter and exit and economic profits are greater than zero in the long run. C) there are some barriers to entry and exit and economic profits are zero in the long run. D) there are some barriers to entry and exit and economic profits are greater than zero in the long run.
Other things the same, which bond would you expect to pay the highest interest rate?
a. a bond issued by the U.S. government b. a bond issued by Microsoft Corporation c. a bond issued by the state of Montana d. a bond issued by a new chain of Brazilian-style restaurants
Land, as a resource, is sometimes confused with what is ________.
Fill in the blank(s) with the appropriate word(s).
The following input-requirements data are for Country A, a capital-abundant country that produces nothing but bread and wine using only capital and labor as inputs. According to the H-O theory, Country A has a comparative advantage in the production of 1 Pound of Bread1 Gallon of WineCapital Input5 units20 unitsLabor Input4 units10 units
A. wine. B. both bread and wine. C. bread. D. neither bread nor wine.