Which of the following factors has significantly increased the supply of labor in the United States since 1950?
A) an increase in the number of people who have received college degrees
B) an increase in the labor force participation rate of women
C) a large increase in the substitution effect as a result of higher wages
D) a low birth rate and an aging population
B
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What is the Tiebout hypothesis?
What will be an ideal response?
If we are currently at point T, we can get to point S in the long run
A. through economic growth over a period of years.
B. immediately by using resources more efficiently.
C. immediately by reducing the unemployment rate.
D. immediately through technological development.
One reason that the quantity demanded of a good increases when its price falls is that the:
A. price decline shifts the supply curve to the left. B. lower price increases the real incomes of buyers, enabling them to buy more. C. lower price shifts the demand curve to the left. D. lower price shifts the demand curve to the right.
Identify changes in three variables that would cause the FE line to shift to the right.
What will be an ideal response?