Channeling people according to sex or race into particular occupations tends to
a. lower the wage rate in these occupations.
b. increase the wage rate in these occupations.
c. reduce income inequality among occupations.
d. affect employment opportunities, but not wage rates.
a. lower the wage rate in these occupations.
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If the money prices of resources changes, the LAS curve shifts
Indicate whether the statement is true or false
For all points below the 45-degree line, planned aggregate expenditure will be less than GDP
Indicate whether the statement is true or false
A monopolist's profit maximizing price depends upon:
A. the elasticity of demand. B. the level of demand. C. the elasticity of supply. D. the level of supply.
In the short run, a sales tax is:
a. wholly absorbed by the producer. b. shared between the consumer and the producer. c. deferred until the market is able to re-establish an equilibrium price. d. wholly absorbed by the consumer.