Today's supply curve of dorm rooms on campus is likely to be
a. downward sloping
b. relatively flat
c. vertical
d. horizontal
e. price elastic
C
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A gasoline tax to finance highways is a fairly good example of democratic decision-making resulting in the efficient level of output
a. True b. False
Suppose a U.S. computer company outsources its technical-support services to India. This will cause
A) the demand for labor in the United States to fall, lowering U.S. wage rates, and the demand for labor in India to increase, increasing Indian wage rates. B) the demand for labor in the United States to increase, lowering U.S. wage rates, and the demand for labor in India to fall, increasing Indian wage rates. C) the demand for labor in the United States to fall, lowering U.S. wage rates, and the demand for labor in India to fall, decreasing Indian wage rates. D) the demand for labor in the United States to increase, increasing U.S. wage rates, and the demand for labor in India to fall, decreasing Indian wage rates.
Which of the following could not contribute to differences in wage rates across markets?
a. differences in training and education requirements b. job discrimination c. differences in risk d. problems of labor mobility e. distribution of a new national help-wanted newspaper
In a market economy, which of the following is most important if a worker is going to achieve high earnings?
a. hard work b. provision of goods and/or services that others value highly c. having a graduate degree in a field like history or sociology d. membership in a labor union