In a factor market, payments flow to ______.
a. producers
b. firms
c. governments
d. households
d. households
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Suppose that a labor union negotiates an increase in wages of 4 percent for the coming year because annual inflation for the past five years has been 4 percent. The expectations formed by the union are:
a. pessimistic expectations. b. deductive expectations. c. rational expectations. d. adaptive expectations. e. optimistic expectations.
India is one of the countries that did not participate in the process of globalization
a. True b. False Indicate whether the statement is true or false
A shift in the supply curve for gasoline in the United States would result if
A. a 50-cent tax on gasoline was enacted by Congress. B. Congress and the president allowed oil to be drilled in previously restricted areas. C. new methods were discovered for recovering oil from wells previously considered dried up. D. All of the choices are true.
The opportunity cost of attending college might best be described as
A) the money that must be paid in order to attend college. B) the lowest-valued alternative use of the student's time. C) the highest-valued alternative use of the student's time. D) the value that the student attaches to not working.