An upward-sloping line or curve is used to illustrate:
a. a direct relationship. b. an inverse relationship.
c. two unrelated variables. d. the ceteris paribus assumption.
a
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Data for an economy shows that the unemployment rate is 10%, the participation rate 80 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the labor force in this economy?
A. 200 million B. 800 million C. 80 million D. 1.0 billion
When Airbnb customers in Malibu start paying hotel taxes, this will have the potential to raise the equilibrium price in this market and, therefore, decrease efficiency. This would have a tendency to
A) decrease producer surplus and decrease deadweight loss. B) decrease consumer surplus and increase deadweight loss. C) maximize consumer surplus and minimize producer surplus. D) increase consumer surplus and increase producer surplus.
The more dangerous of two jobs currently pays $3 more per hour. The jobs are equivalent in all other respects. If labor is migrating from the higher-risk job to the lower-risk job, then
a. the equilibrium compensating wage differential is less than $3 per hour b. the wage rate will drop for the more dangerous job c. the wage rate will rise for the less dangerous job d. the equilibrium compensating wage differential is greater than $3 per hour e. equilibrium is unattainable in the two labor markets
Recall the Application about the Native American Tribes in Michigan that had a monopoly in casino gambling to answer the following question(s).Recall the Application. How many Native American Tribes made a deal with the state of Michigan in 1993 and were granted a monopoly in casino gambling?
A. 2 B. 3 C. 7 D. 10