The _______________ supports the contention that there are non-competing groups in the labor market.
A. living wage
B. dual labor market theory
C. backward-bending labor supply curve
D. marginal revenue product
B. dual labor market theory
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Which of the following contributed to a slowdown in U.S. labor productivity during the 1970s?
a. An increase in the number of skilled legal immigrant workers b. An increase in the illegal employment of minors c. An increase in the number of skilled illegal immigrant workers d. The exit of the baby boom generation from the work force e. Lower energy prices
Disposable personal income is the income that households and noncorporate businesses have left after satisfying all their obligations to the government
a. True b. False Indicate whether the statement is true or false
During some year a country had exports of $50 billion, imports of $70 billion, and domestic investment of $100 billion. What was its saving during the year?
a. $80 billion b. $100 billion c. $120 billion d. $150 billion
Growing rice requires extensive irrigation in California. Economists consider water to be a ________ for rice farmers in California.
A. need B. inferior good C. luxury D. want