For a worker to be potentially available, he or she must
A) know about the jobs available at a particular firm.
B) be in the relevant geographic market and be willing to work for minimum wage.
C) have most of the skills required by the firm only.
D) have the skills required by the firm and be in the relevant geographic market.
D
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According to this Application, clear property rights
A) hinder economic growth in developing nations. B) have no impact on the economic growth of developed nations. C) are important for economic growth in developing and developed nations. D) are important for economic growth in developed nations, but not in developing nations.
The more elastic the demand for a good, the
A) less a sales tax lowers the price paid by buyers. B) more a sales tax lowers the price paid by buyers. C) less a sales tax raises the price paid by buyers. D) more a sales tax raises the price paid by buyers.
During 2007-2008, the price of gasoline increased from approximately $1.50 to $4.00 per gallon. As a result, the
A) supply of gas guzzling automobiles decreased, causing their price to increase. B) supply of gas guzzling automobiles increased causing their price to fall. C) demand for gas guzzling automobiles, such as the Hummer, decreased, causing their price to decline. D) demand for gas guzzling automobiles increased, causing their price to increase.
An individual supply curve is a(n) ______ as you move from left to right.
a. zig zag line b. horizontal line c. downward slope d. upward slope