The demand curve for labor shows the ________ of labor employers wish to hire at any given salary or wage rate, under the ceteris paribus assumption.
a. quality
b. frequency
c. quantity
d. type
c. quantity
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The table above shows the marginal costs and marginal benefits of college education. If the market for college education is perfectly competitive and unregulated, at the equilibrium quantity, the marginal external benefit is
A) zero. B) $5,000. C) $4,000. D) $8,000.
As a policy instrument, pollution rights allow income distribution effects that can more easily win the cooperation of affected businesses
Indicate whether the statement is true or false
Suppose that a consumer's preferences are well behaved in that properties 4-1 to 4-4 are satisfied and the initial budget constraint is given by 300 = 2X + 4Y. At the initial budget constraint, this consumer purchases 100 units of good X and 25 units of good Y. Suppose the price of X increases to $4 per unit, resulting in a new consumption bundle consisting of 60 units of X and 15 units of Y. Then, the slope of the inverse demand for good X over this consumption range is:
A. 0.05. B. ?0.267. C. ?0.444. D. ?0.05.
The Phillips curve illustrates the relationship between:
A. change in the money supply and change in unemployment. B. tax rates and tax revenues. C. the equilibrium level of income and the employment rate. D. inflation and unemployment.