In the United States, technological advances help explain persistently rising employment in the face of rising wages
a. True
b. False
Indicate whether the statement is true or false
True
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The table shows the demand and supply schedules for student workers at on-campus venues. If the college introduces a strictly enforced minimum wage of $11.50 an hour,
who gains and who loses from the minimum wage, and is the campus labor market efficient or fair?
A lender of last resort
A) makes loans when no one else will. B) makes loans without regard for risk. C) is a firm that is forced to make loans for its own survival. D) Both A and B. E) None of the above.
The labor theory of value
A) is what economists believe determines prices today. B) says that wages must always be greater than prices. C) says that the price of a good is determined by the amount of labor required to produce it. D) All of the above.
Does a tax on buyers affect the demand curve?
A. Yes, it shifts down by the amount of the tax. B. Yes, it shifts to the left by the amount of the tax. C. Yes, it shifts up by the amount of the tax. D. No, there is change in the quantity demanded, but the demand curve does not move.