Which of the following is likely to lead to a left shift in the supply curve for labor to a firm?
A) The introduction of labor-saving technology
B) The establishment of a new firm nearby that offers higher wages
C) An increase in the opportunity cost of leisure
D) The introduction of labor-complementary technology
B
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What is the term that describes a situation in which one party to an economic transaction has less information than the other party?
A) monopsony B) asymmetric information C) inefficient market hypothesis D) unequal market structure
The Gini coefficient index
a. is a curve that bows outward from the Lorenz curve. b. is a straight line coinciding with the Lorenz curve. c. has a minimum value of 1.0. d. is another way of expressing income inequality.
There is only one gas station within hundreds of miles. The owner finds that when she charges $3 a gallon, she sells 199 gallons a day, and when she charges $2.99 a gallon, she sells 200 gallons a day. The marginal revenue of the 200th gallon of gas is:
a. $.01. b. $1. c. $2.99. d. $3. e. $600.
The Fed's exit strategy refers to how they will exit from political discussion
a. true b. false