Which of the following jobs is least likely to be outsourced?
A. Transcription of physicians' records
B. Technical assistance over the phone for your computer
C. Flipping hamburgers
D. Software design
Answer: C
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The tendency for consumers to purchase more of a good or service as its price falls is captured by:
A. the law of supply. B. the law of increasing cost. C. the law of demand. D. cross-price elasticity of demand.
If the minimum wage is set
A) above the equilibrium wage rate, it will create unemployment. B) equal to the equilibrium wage rate, it will create a shortage of labor. C) below the equilibrium wage rate, it will create unemployment. D) equal to the equilibrium wage rate, it will create a surplus of labor. E) below the equilibrium wage rate, it will create a shortage of labor.
How does the exit of firms from a monopolistically competitive market affect the demand curves faced by the existing firms?
What will be an ideal response?
A likely consequence of deposit insurance, ceteris paribus, is ________
A) an increase in risk-taking by banks B) a bank panic C) a credit boom D) a reduction in the severity of adverse selection