Noncompeting groups of workers are the result of:
A. differences in the age-earnings profiles of workers.
B. differences in the "job tastes" of workers.
C. differences in the innate and acquired abilities of workers.
D. geographic immobility.
Answer: C
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Suppose that the labor movement has a revival in the United States and the majority of workers join labor unions. As a result we would expect
A) the unemployment rate to fall. B) the unemployment rate to rise. C) the labor force participation rate to fall. D) no change in the unemployment rate or labor force participation rate.
Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one ticket falls from $50 to $20
A) everyone will buy a ticket. B) consumer surplus decreases from $48 to $24. C) only three tickets will be sold. D) consumer surplus increases from $0 to $62.
The problem typically during a recession is not that there is too little money, but too little spending. If the problem was too little money, what would be its cause? If the problem was too little spending, what could be its cause?
What will be an ideal response?
Government standards for products sold in the domestic market can have the effect of protecting domestic producers from foreign competition
a. True b. False Indicate whether the statement is true or false