In the simple trade model, what is assumed about labor?
What will be an ideal response?
It is perfectly mobile between the two industries within a nation.
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A condition in a market where quantity demanded equals quantity supplied is called
A) a shortage. B) a surplus. C) market equilibrium. D) All of the above are possible correct answers.
The New York Times reported in November 2008 that 240,000 additional people lost their jobs which increased the unemployment rate to 6.5 percent
In addition, it was noted that a large number of college graduates were "taking jobs that do not require a college degree." It was also expected that "teens will be thrown out of the labor market....causing youths to miss experience" that could help them prepare for higher-skilled jobs. The article reflects the idea that unemployment is a problem because it results in A) a loss of human capital. B) fewer discouraged workers. C) a loss of income. D) a decrease in the labor force.
An increase in the number of workers hired by a firm could result from
A) a decrease in the marginal product of labor. B) a decrease in the marginal revenue product of labor. C) an increase in the real wage. D) a decrease in the real wage.
Which group or groups buy U.S. public debt?
a. Government agencies b. Private individuals c. Private institutions d. All of the above.