If Isabella buys two goods and the prices of both goods decrease by 50%
A) the budget constraint will be unchanged.
B) the slope of the budget constraint will increase.
C) the slope of the budget constraint will decrease.
D) the budget constraint will shift outward in a parallel fashion.
D
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During 2008, Swaziland had a real GDP growth rate of 1.8 percent and a real GDP growth rate per person of -1.3 percent. These rates indicate that in Swaziland
A) the population grew at a faster rate than real GDP. B) real GDP grew more rapidly than did the population. C) there was an error when calculating the growth rates because the growth rate of real GDP per person cannot be negative. D) poverty levels are declining. E) the population growth rate was negative.
If there is a monopsony operating in the labor market illustrated in the figure above and the federal government decides to institute a minimum wage of $8 an hour then the wage paid will ________ and the quantity of labor hired will ________
A) increase; decrease B) increase; increase C) decrease; increase D) decrease; decrease
Describe the single supervisory mechanism or SSM proposed by EU leaders in June of 2012
What will be an ideal response?
The efficiency wage is
A) lower than the market-clearing wage, to penalize shirking. B) higher than the market-clearing wage, to penalize shirking. C) lower than the market-clearing wage, to allow managers the resources to monitor shirking. D) higher than the market-clearing wage, to reward workers for informing on others who shirk. E) lower than the market-clearing wage, because of shirking done by managers.