Identify the correct statement from the following
a. Wages offered for a particular type of job are the same across the country.
b. The labor market exhibits rapid adjustment to changes in supply or demand conditions.
c. The labor market usually yields a range of wages rather than a unique equilibrium.
d. Wages exhibit frequent and prompt changes in response to changes in market conditions.
C
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Refer to Figure 2-13. Which two arrows in the diagram depict the following transaction: Carter earns a $400 commission for selling men's designer shoes at Brooks Brothers
A) K and G B) K and M C) J and G D) J and M
The value of the marginal propensity to consume is ________
A) equal to one B) between zero and one C) greater than one D) less than zero
Use the following consumption schedule to answer the next question.
At income level 1, the amount of saving is
A. negative. B. positive. C. zero. D. not measurable.
Americans generally pay
A. a lower percentage of their incomes in taxes than citizens of other industrialized countries. B. a lower percentage of their incomes in taxes than citizens of other industrialized countries, with the exceptions of Sweden and the Netherlands. C. about the same percentage of their incomes in taxes as citizens of other industrialized countries. D. a higher percentage of their incomes in taxes than citizens of other industrialized countries.