A technological advance that increases the productivity of teachers can be expected to have what effects on the equilibrium labor market for teachers?
a. Wages will rise, and quantity of labor will fall.
b. Wages will rise, and quantity of labor will rise.
c. Wages will fall, and quantity of labor will fall.
d. Wages will fall, and quantity of labor will rise.
e. Wages and quantity of labor will remain the same.
b
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Complete price stability would be the result of
A) inflation. B) an inflation rate of zero. C) deflation. D) hyperinflation.
Which of the following is not true of declining industries?
a. Job loss is not a problem in a declining industry because the workers can easily find jobs in expanding industries. b. Jobs may be lost by declining industries but new jobs are created in expanding industries. c. Over 60 million new jobs have been created in the United States since 1960. d. One way to solve the problems posed by declining industries is for the government to fund programs to retrain workers for jobs that are in greater demand. e. One way to solve the problems posed by declining industries is for the government to offer wage subsidies or special tax breaks that decline over time.
Pareto improvements occur
a. through the tax system b. rarely in the real world c. when the economy has reached the point of economic efficiency d. when market exchanges take place e. when consumers are not perfectly informed
Refer to the game.Player 1Player 2??t1t2t3?S110,05,14,-200?S210,1005,00,-100Which of the following pairs of strategies constitute a Nash equilibrium of the game?
A. S1, t1 B. S1, t2 and S2, t1 C. S1, t2 D. S2, t1