Susan and Calvin paint houses. Susan consistently paints about 400 square feet of a house's exterior per hour, while Calvin consistently paints about 300 square feet per hour. Susan's __________ exceeds that of Calvin
Fill in the blank(s) with correct word
productivity
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A minimum wage set above the equilibrium wage rate is a price ________ that ________ the quantity of low-skilled labor demanded
A) ceiling; decreases B) ceiling; increases C) floor; decreases D) floor; increases
Who sells what to whom
A) has been a major preoccupation of international economics. B) is not a valid concern of international economics. C) is not considered important for government foreign trade policy since such decisions are made in the private competitive market. D) is determined by political rather than economic factors. E) is less important than international economic theory.
The number of futures contracts outstanding is called
A) turnover. B) volume. C) float. D) open interest.
Those individuals who rejected the U.S. tariff policy of the antebellum period did so for which of the following reasons? They
(a) Wanted to save domestic jobs in those industries reliant on imports. (b) Depended on imports for domestic production. (c) Wanted to protect relatively low consumer prices, advance free trade and boost economic efficiency. (d) All of the above.