As the baby boomers retire what happens in the labor market?
A. increases labor supply.
B. decreases labor supply.
C. decreases labor demand.
D. increases labor demand.
Answer: B
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A public good in which exclusion is possible is called
A) an exclusive good. B) a common good. C) an impure good. D) a club good.
A good that is not rival and not excludable is a ______ good.
a. private b. public c. common d. club
If the capital-gains tax rate in 2007 had remained the same as in the mid - 1970s,
A. more gains would have reported to the IRS. B. the top 1 percent share of income would have been less than 7%. C. far fewer gains would have been realized. D. the top 1 percent share of income would have been more than 30%.
Which of the following is true for the law of demand?
A. Sellers increase the quantity of a good available as the price of the good increases. B. An increase in price results from false needs. C. There is an inverse relationship between the price of a good and the quantity of the good demanded. D. Prices increase as more units of a product are demanded.