If the United States imposed higher tariffs and more restrictive quotas that reduced imports,
A) employment in the U.S. would be higher.
B) the U.S. would not gain at the cause expense to other countries.
C) the U.S. would gain at the expense of other countries.
D) the wage rates of U.S. workers would be higher.
C) the U.S. would gain at the expense of other countries.
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Sally is an average shopper, with average income. When she is in the store she buys a few items which cost more than $20, several items which cost between $5 and $20, and many items which cost less than $1 . The price elasticity of Sally's demand for these goods most likely ____
a. increases as the price decreases b. decreases as the price decreases c. increases as the price increases d. decreases as the price increases e. remains constant over all price ranges
The return to monopsony power refers to the
a. difference between the marginal revenue product and the wage rate of the last worker hired multiplied by the number of workers employed b. fact that the marginal cost of labor for a monopsony is lower than the wage rate c. wage rate minus the marginal revenue product d. higher marginal revenue product of labor that a worker produces under monopsony e. fact that a monopsonist can choose both the wage rate and the number of workers hired simultaneously
Labor-market discrimination based solely on age is illegal in the United States
a. True b. False Indicate whether the statement is true or false
If the United States' unemployment rate is 5% and the capacity utilization rate is 85-90%, then the economy is at ___________.
Fill in the blank(s) with the appropriate word(s).