Which of the following would shift a market labor supply curve to the left?
a. a decrease in the price of output
b. an increase in the price of output
c. a labor-augmenting technological change
d. better employment opportunities in a closely-related job
d
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Which of the following statements is true?
A. The ECB's success in controlling reserves by paying interest on them has led the Fed to do the same. B. The Fed's redesign of its procedures for lending to banks was the model for the ECB's marginal lending facility. C. The ECB's marginal lending facility was the model for the Fed's redesign of its procedures for lending to banks. D. The ECB's weekly auctions include only a few of the largest banks in Europe.
Organ sales are illegal in the United States. This creates possible economic inefficiency because:
a. It discourages wealth creating transactions through the threat of legal penalty b. It encourages organ sales c. It encourages government intervention
A monopolistically competitive firm earning profits in the short run will find the demand for its product decreasing and becoming more elastic in the long run as new firms move into the industry until
A) the original firm is driven into bankruptcy. B) the firm's demand curve is perfectly elastic. C) the firm's demand curve is tangent to its average total cost curve. D) the firm exits the market.
The following data represent a personal income tax schedule. Answer the next question on the basis of this information.Taxable IncomeTotal Tax$15,000$1,50030,0003,50060,0009,000120,00025,000The average tax rate at the $60,000 level of income is
A. 20.8%. B. 11.6%. C. 10.0%. D. 15.0%.