In the above figure, which part corresponds to a fall in the money wage rate?
A) Figure A
B) Figure B
C) Figure C
D) Figure D
D
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The first Taco Bell 7-layer burrito you ate was extraordinary. The second one was good. The third one was pretty good. The fourth one was just kind of okay. This illustrates
A) utilitarianism. B) diminishing marginal utility. C) the benefits-received principle. D) transcendentalism.
"The market demand curve for labor is the horizontal summation of the labor demand curves of all firms." Do you agree or disagree? Why?
What will be an ideal response?
Which of the following is the correct formula for determining the unemployment rate?
a. [(The number of unemployed, working-age people seeking work)/(The number of people in the labor force)] x 100. b. (The total number of employed / The number of people in the labor force) x 100. c. (The total number of unemployed / The number of working-age people seeking work) x 100. d. (The number of people in the labor force / The number of working-age people seeking work) x 100.
Mexico and the members of OPEC produce crude oil. Realizing that it would be in their best interests to form an agreement on production goals, a meeting is arranged and an informal, verbal agreement is reached. If both Mexico and OPEC abide by the agreement, then OPEC's profit will be $200 million and Mexico's profit will be $100 million. If both Mexico and OPEC cheat on the agreement, then OPEC's profit will be $175 million and Mexico's profit will be $80 million. If only OPEC cheats, then OPEC's profit will be $185 million, and Mexico's profit will be $60 million. If only Mexico cheats, then Mexico's profit will be $110 million, and OPEC's profit will be $150 million.This game is ________ because ________.
A. a prisoner's dilemma; not cheating is better for both B. a prisoner's dilemma; cheating is better for both C. not a prisoner's dilemma; OPEC does not have a dominant strategy D. not a prisoner's dilemma; cheating is better for both