Union members earn about the same wage level as nonunion members in the same industry
a. True
b. False
Indicate whether the statement is true or false
False
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When a price ceiling is set below the equilibrium price, the quantity supplied ________ the quantity demanded and ________ exists
A) is less than; a surplus B) is less than; a shortage C) is greater than; a surplus D) is greater than; a shortage E) equals; an equilibrium
What is the definition of a discouraged worker?
A) a member of the labor force who is working but is discouraged about his prospects for advancement within the company B) a member of the labor force who is working but is discouraged about the performance of his company within the industry C) a person who has dropped out of the labor force because he is discouraged about his prospects for employment D) an employed member of the labor force who is discouraged about his pay
Less of the federal debt is owned by federal, state, and local governments than is owned by foreigners
a. True b. False Indicate whether the statement is true or false
Consider a firm that uses only one fixed input and one variable input. a . Explain how this firm's TC, TVC, and TFC curves will be affected by a government tax on the fixed input. b. Explain how this firm's TC, TVC, and TFC curves will be affected by a government tax on the variable input