In the 1700s and 1800s:
A. the invisible hand was free to push wage rates down to subsistence levels.
B. labor laws were passed to prevent child labor.
C. labor laws were passed to protect workers from job-related injuries.
D. the invisible hand was prevented from pushing wage rates down to subsistence levels.
Answer: A
You might also like to view...
Use the aggregate expenditures model and the following values to answer the next question.AMPCIGT$3500.75$400$400$200Determine equilibrium real GDP for this economy.
A. $4,600 B. $5,400 C. $3,800 D. $4,000
In which of the following situations will the price of medical care decrease with an increase in its demand?
a. When the supply of medical care is the same as the demand for medical care b. When there is an increase in productivity as a result of a technological advancement c. When there is an increase in the price of resources used to produce medical care d. When the supply of medical care increases more than the demand for medical care e. When there is an increase in future profit expectations
Monopolistic competitors have _______ rivals who produce _________ goods and services.
A. no; identical B. many; identical C. many; close substitute D. None of the choices are correct.
Refer to the information provided in Table 22.5 below to answer the question(s) that follow.
Table 22.5
Refer to Table 22.5. If 2014 is the base year, the inflation rate between 2014 and 2015 is ________%, and the inflation rate between 2015 and 2016 is ________%.
A. 7.4; 13.9 B. 3.9; 17.1 C. 6.1; 16.1 D. 10.2; 10.4