If there is employment discrimination against minorities, this will cause the:
A. supply of their services to increase, and their wages to fall.
B. demand for their services to decline, and their wages to fall.
C. supply of their services to decline, and their wages to rise.
D. demand for their services to decline, and their wages to rise.
Answer: B
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An industry with a Herfindahl-Hirschman index of 1,000 would have ____ firm(s).
A. 1 B. 10 C. 100 D. 1,000
A market:
A. reflects upsloping demand and downsloping supply curves. B. entails the exchange of goods, but not services. C. is an institution that brings together buyers and sellers. D. always requires face-to-face contact between buyer and seller.
Explain this quote from Adam Smith: “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner but from their regard to their own interest.”
Please provide the best answer for the statement.
The short-run labor demand curve is:
A. more elastic than the long-run labor demand curve. B. less elastic than the long-run labor demand curve. C. either more or less elastic than the long-run labor demand curve. D. perfectly elastic (horizontal).