Which of the following would tend to lessen the wage gap between a country's skilled and unskilled workers?
a. technology increases the productivity of unskilled workers more than that of skilled workers
b. the country increases trade with countries that have a higher proportion of skilled workers
c. both A and B
d. neither A nor B
c
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If the abatement level were 20 percent, what would be the levels of MACmktand MCE? What do these values convey about total abatement costs incurred by polluting sources and by government at this 20 percent abatement level?
What will be an ideal response?
If a competitive firm maximizes short-run profits by producing some quantity of output, which of the following must be TRUE at that level of output?
A) p = MC B) MR = MC C) p ? AVC D) All of the above
Which statement is true?
A. Americans first embraced labor unions as an important institution at the same time presidents Teddy Roosevelt and William Howard Taft were breaking up some of the major trusts. B. Labor leader Samuel Gompers pushed for socialist reforms such as the 8-hour day and the elimination of the wage system. C. The National Labor Relations Act was passed the year after the Sherman Anti-trust Act of 1891. D. Labor unions were considered subversive until the 1940s.
When the economy enters into a recession, your employer is ________ to reduce your wages because ________
A) unlikely; output and input prices generally fall during recession B) unlikely; lower wages reduce productivity and morale C) likely; output prices always fall during recession D) likely; aggregate demand is vertical in the long run