The labor supply curve shows how many workers are willing to work
A. at any given wage.
B. in order to maximize the firm's profit.
C. at the minimum wage.
D. at any given time.
E. in a particular industry.
Answer: A
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What is meant by "tax shifting"?
What will be an ideal response?
“Men are disposed, as a rule, and on the average, to increase their consumption as their income increases, but not by as much as the increase in their incomes.” Which of the following is consistent with this statement by J.M. Keynes?
A. The slope of the consumption function is positive and less than 1. B. The slope of the consumption function is greater than that of the 45-degree line. C. The slope of the consumption function is negative. D. The slope of the consumption function is equal to 1.
Refer to the figure below. Suppose the solid line represents the current supply of Star Wars action figures. If the price of the plastic used to make action figures rises, current supply will: 
A. not change; only the quantity supplied will change. B. shift to S(A). C. shift to S(B). D. not change because a change in the price of plastic will not affect the demand for action figures.
How can restricting entry into a union help boost members' wages without the union specifically setting wages?
What will be an ideal response?