Suppose that the labor market for life guards is initially in equilibrium. Whistles are an important safety tool that life guards use as a part of their jobs. A fire destroys the largest factory that produces whistles. In the market for life guards the equilibrium wage
a. increases because the marginal productivity of life guards increases.
b. decreases because the marginal productivity of life guards decreases.
c. increases because the supply of life guards increases.
d. decreases because the supply of life guards decreases.
b
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Since 1990 the highest economic growth rates in the world have occurred in
A. The United States. B. Nigeria. C. India. D. China.
In 1964, President Johnson improved the economy by passing the ______.
a. Reagan tax cuts b. Kennedy tax cuts c. American Recovery and Reinvestment Act d. Supply-Side Laffer Curve
List the five categories of federal government expenditures
What will be an ideal response?
The above figure shows the market for hamburger. Which figure shows the effect of an announcement by the U.S. Food and Drug Administration (FDA)that eating hamburger causes early death?
A) Figure A B) Figure B C) Figure C D) Figure D