If the equilibrium wage is below the actual wage:
A. the demand for labor will increase.
B. the demand for labor will decrease.
C. the wage rate will fall.
D. the wage rate will rise.
Answer: C
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Stagflation is the combination of
a. falling output and a falling price level b. falling output and rising unemployment c. falling output and a rising price level d. falling output and falling unemployment e. rising unemployment and a falling price level
Opportunity cost is the
A. cost incurred when one fails to take advantage of an opportunity. B. cost incurred in order to increase the availability of attractive opportunities. C. cost of the best option forgone as a result of choosing an alternative. D. drudgery of the undesirable aspects of an option.
Whether a tax is levied on sellers or buyers, buyers and sellers usually share the burden of taxes
a. True b. False Indicate whether the statement is true or false
Which of the following is correct?
A. During the Great Recession, unemployment rates for men rose above those of women. B. Unemployment rates for African-American and white workers are approximately the same. C. Teenagers experience approximately the same unemployment rates as do adults. D. Laborers are less vulnerable to unemployment than are professional workers.vvvvvv