Which of the following is a consequence of extended unemployment?
a. greater output per person
b. lost tax revenue
c. lower minimum wage
d. increased efficiency wage
b. lost tax revenue
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The above figure depicts the Edgeworth box for two individuals, Al and Bruce. Considering only the labeled points, point c is a possible equilibrium
A) only if it is the endowment. B) only if point a is the endowment. C) if either point a or b is the endowment. D) only if point d is the endowment.
In finance, leverage is using:
A. the equity one owns to pay for investments planned in the future. B. borrowed money to pay for investments. C. forecasted future earnings to pay for current loans. D. predicted earnings to pay for current investments.
The attempt to force employers to use more labor than they otherwise would, or to force employers to use labor inefficiently, is known as
A) a secondary boycott. B) a sympathy strike. C) a monopsony. D) featherbedding.
Average fixed costs of production
A) remain constant. B) will rise at a fixed rate as more is produced. C) graph as a U-shaped curve. D) fall as long as output is increased.