Other things remaining the same, which of the following is likely to decrease both the wage rate and the number of workers hired in a tea estate?
A) An increase in the price of tea
B) A decrease in the price of tea
C) A decrease in the opportunity cost of leisure
D) An increase in the opportunity cost of leisure
B
You might also like to view...
Which market is most likely to witness such actions and reactions as frequent new-product introductions, free samples, and aggressive advertising campaigns?
A. Oligopoly B. Perfect competition C. Monopoly D. Monopolistic competition
Use the following table to calculate the unemployment rate. Select the correct answer from the options below. In millionsCivilian population270People incapable of working70People not looking for work60Employed workers133
A. 3 percent B. 7 percent C. 5 percent D. 9 percent
Exhibit 14A-2 Macro AD-AS Model
In Exhibit 14A-2, the long-run aggregate supply curve represents:
A. potential real GDP output for this economy. B. that the economy is experiencing zero inflation. C. that the economy is experiencing technological change. D. the level of real GDP where the unemployment rate is zero.
Leverage is thought to be:
A. the single reason for the Great depression. B. a dangerous tool, especially for big companies who do not understand its risk. C. the most widely used of hedging risk in markets. D. a relatively riskless strategy used by companies to grow quickly.