Consider a labor market in equilibrium. If both demand curve and supply curve of labor shift to the right, then the number of workers hired in the market will:
A. increase.
B. decrease.
C. remain unchanged.
D. either increase or decrease or remain unchanged.
Answer: A
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The view that well-organized producer groups expect to profit from economic regulation and therefore, persuade public officials to impose restrictions that existing producers find attractive is called?
a. social regulation b. public interest regulation c. special interest regulation d. anti-trust regulation
The change in wealth during a period equals:
A. public saving + private saving - transfers. B. saving - investment + capital gains - capital losses. C. saving - capital gains + capital losses. D. saving + capital gains - capital losses.
Ultimately, tariffs ________ the ability of foreign countries to buy the domestic country's exports and therefore ________ wealth
A) increase; create B) increase; destroy C) reduce; create D) reduce; destroy
What is the relationship between the balance of trade and the current account balance?
What will be an ideal response?