Which of the following variables will not cause the market supply curve of labor to shift?
A) a change in the labor participation rate of women
B) an increase in the number of people between the ages of 16 and 65
C) increases in population
D) a favorable change in consumer tastes
D
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The demand curve in the perfectly competitive industry
A. is identical to the firm’s demand curve. B. negatively sloped. C. positively sloped. D. perfectly elastic.
If you believe that the inflation rate is likely to be high over the next ten years, you would want to
a. have a pension with raises indexed to the CPI if you were going to be retiring b. obtain a variable rate mortgage c. not obtain any fixed rate consumer loans d. pay off all of your existing fixed rate loans e. be a shareholder of a bank because their profits are going to increase dramatically
What is the difference between explicit costs and implicit costs? Explain your answer using examples
Lower levels of education and training are often associated with low levels of
A. production. B. productivity. C. inflation. D. both a and b.