When the wage rate increases:
a. all workers wish to work more hours
b. all workers wish to work fewer hours.
c. the number of hours laborers wish to work does not change.
d. some workers will wish to work more hours, and some will wish to work fewer hours.
d
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Perfectly competitive industries tend to produce low-priced, low-technology products
Indicate whether the statement is true or false
What is a reason not to protest poor working conditions in factories in low-income countries?
a. It would increase the price of goods imported into the United States. b. The working conditions are not that bad. c. The alternative job opportunities are worse. d. The protests have no effect on working conditions.
The government program that provides low-income people with government-issued stamps that can be redeemed for specific food items at food stores and supermarkets is the
a. emergency aid program b. food stamp program c. school lunch program d. hunger relief program e. meals on wheels program
As a monopolist increases the quantity of output it sells, the price consumers are willing to pay for the good
a. is unaffected. b. decreases. c. increases. d. There is not enough information given in answer the question.