The government can facilitate the transfer of unskilled workers to high-skilled jobs by:
A. increasing tariffs to help unskilled workers.
B. increasing tariffs to speed the development of jobs requiring skilled labor.
C. providing assistance for education and training for unskilled workers.
D. laying off skilled workers to provide jobs for unskilled workers.
Answer: C
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If the demand curve increases while the supply curve remains unchanged, the equilibrium price would decrease
a. True b. False Indicate whether the statement is true or false
Which of the following statements about monopoly is most accurate?
a. The monopolist has no incentive to produce efficiently. b. Regardless of what is produced, the monopolist will use too many resources. c. A monopolist has no incentive to keep costs down. d. The monopolist "understocks" the market and charges too high a price.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.
Suppose that there are two types of houses for sale: those with solid foundations and those with cracked foundations. In all other respects, the two types of houses are identical. Houses with solid foundations are worth $200,000, while those with cracked foundations are worth $200,000 minus the $20,000 to fix the crack, or $180,000. Sellers know which type of house they have, but buyers cannot detect whether the foundation has a crack. Suppose that 80 percent of the houses for sale have a solid foundation and 20 percent of the houses for sale have a cracked foundation. In the long run, we would expect:
A. 80 percent of the houses for sale to have a solid foundation, 20 percent to have a cracked foundation, and houses to sell for $196,000. B. 100 percent of the houses for sale to have a cracked foundation and to sell for more than $180,000. C. 100 percent of the houses for sale to have a solid foundation and to sell for $200,000. D. 100 percent of the houses for sale to have a cracked foundation and to sell for $180,000.