Suppose that the wage for musicians increases relative to other occupations. We know that ________ people will work in music, and the total number of hours worked will ________.
A. more; increase
B. more; decrease
C. fewer; increase
D. fewer; decrease
Answer: A
You might also like to view...
Automatic stabilizers have the effect of
A) increasing aggregate demand during a recessionary ga
Imposing a new $10 downtown parking tax a. would be a negative incentive that might have the positive result of reducing downtown congestion. b. would be a positive incentive that might have the positive result of reducing downtown congestion. c. would be a negative incentive that could only have negative results
d. None of the above is true.
When a government moves from a centrally planned economy to a market economy, this is an example of ________ policy.
A. monetary B. aggregation C. fiscal D. structural
When measuring economic growth, economists typically focus on per capita real GDP in order to account for variations in the:
a. size of the population
b. price level
c. quality of goods and services
d. both (a) and (b) above