If Congress suddenly passes legislation that required all U.S. workers to receive the same annual pay, we would expect
a. less human capital investment.
b. a shortage of workers to fill the least desirable jobs.
c. a surplus of workers to fill the easy, desirable jobs.
d. all of the above.
D
You might also like to view...
The reserve requirement is 0.20. What is the simple deposit multiplier?
A) 1 B) 5 C) 0.10 D) 100
All of the following are shortcomings of GDP as a measure to human well-being except it:
a. Excludes black market and underground transactions. b. Excludes quality improvements that do not increase price or quantity sold. c. Excludes the value of leisure time. d. Counts harmful and dangerous output the same as useful output. e. Excludes international transactions.
Refer to Figure 6.1. Assume that L1 represents the budget line before a price change. Which change in budget lines represents compensation?
A. L1 to L2
B. L2 to L3
C. L3 to L2
D. L1 to L3
Which of the following is an example of a Pigovian tax?
A) payments by utilities to obtain tradable emission allowances B) a payroll tax C) payments for licenses to pollute D) a tax imposed on a utility that internalizes the cost of externalities caused by the utility