What are the three noteworthy labor market trends that Americans have experienced for about two decades?
What will be an ideal response?
For about two decades, Americans have experienced three noteworthy trends:(a) a decline in union membership of more than 30 percent,(b) a steady fall in real wages partly offset by rising fringe benefits, and(c) a rise in the income gap between well-paid and poorly paid workers.
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For the perfectly competitive broccoli producers in California, the market demand curve for broccoli is
A) a horizontal line. B) downward sloping. C) nonexistent. D) upward sloping. E) the same as the demand curve each firm faces.
__________ contributions to a defined __________ pension plan are tax-deferred until retirement
A) Employer; benefit B) Employer; contribution C) Employee; benefit D) Employee; contribution
Bridge Coal Company is the only employer in a remote and mountainous region of the country, so the firm is the monopsony buyer of labor in the market
If the price of coal increases, then the firm's quantity of labor demanded ________ and the equilibrium wage ________. A) decreases, decreases B) decreases, increases C) increases, decreases D) increases, increases
Thinks about your own purchases. Consumer surplus
a. exists only rarely b. exists on every purchase that a consumer makes c. never exists—it's only a theoretical concept d. is received only if a good generates a utility higher than expected e. is earned on many of the purchases a consumer makes