Wealth is far more evenly distributed than income
Indicate whether the statement is true or false
F
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If the wage is kept above the equilibrium wage for any reason, the result is
a. cyclical unemployment. b. frictional unemployment. c. seasonal unemployment. d. structural unemployment.
Holding other factors constant, an increase in the capital stock ________ the real wage and ________ employment.
A. increases; does not change B. decreases; increases C. increases; increases D. increases; decreases
The labor pool effect of globalization has which of the following effects?
A. The supply of labor for many kinds of work increases, pushing the equilibrium wage down. B. The overall number of workers employed falls. C. The labor force participation rate declines. D. The demand for labor for many kinds of work increases, pushing the equilibrium wage up.
Consider the above figure. This curve suggests that as the government continues to raise the tax rate, the revenues that are collected will eventually
A. increase. B. approach infinity. C. decline. D. become negative.