In the basic competitive model of labor markets, it is assumed that
A. individuals are identical in training and skills but not all jobs are identical.
B. not all individuals are identical in training and skills but all jobs are identical.
C. individuals are not identical in training and skills and jobs are not identical.
D. individuals are identical in training and skills and all jobs are identical.
Answer: D
You might also like to view...
The main advantage of using panel data over cross sectional data is that it
A) gives you more observations. B) allows you to analyze behavior across time but not across entities. C) allows you to control for some types of omitted variables without actually observing them. D) allows you to look up critical values in the standard normal distribution.
Bushels Demanded Per MonthPrice Per BushelBushels Supplied Per Month45$57750473563686126167157Refer to the above data. If the price in this market was $4:
A. buyers would want to purchase more wheat than is currently being supplied. B. there would be a shortage of wheat. C. farmers would not be able to sell all their wheat. D. the market would clear; quantity demanded would equal quantity supplied.
Assume that the reserve requirement is 25%. If the Federal Reserve sells $120 million in government securities to the general public, the money supply will immediately ________.
A. increase by $120 million with this transaction, and the increase in money supply could eventually reach a maximum of $480 million B. increase by $120 million with this transaction, and the increase in money supply could eventually reach a maximum of $360 million C. decrease by $120 million with this transaction, and the decrease in money supply could eventually reach a maximum of $480 million D. decrease by $120 million with this transaction, and the decrease in money supply could eventually reach a maximum of $360 million
Which is a required characteristic of a perfectly competitive industry?
A) There are few firms so that none can influence market price. B) Products are highly differentiated. C) Barriers to entry are high. D) None of the above