Approximately how many workers are employed in the U.S. health care industry?
A. 850,000.
B. 925,000.
C. 5.8 million.
D. 17 million.
Answer: D
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If the income effect outweighs the price effect of a wage increase, the labor-supply curve will:
A. slope upward. B. slope downward. C. be perfectly flat. D. be perfectly horizontal.
When people are separated into different jobs on the basis of sex, it is referred to as:
a. statistical discrimination. b. employer prejudice. c. worker prejudice. d. occupational segregation. e. occupational crowding.
We will definitely go bankrupt if we don't
A. refinance the national debt as the Treasury bills, notes, and bonds fall due. B. pay off the national debt within the next 20 years. C. reduce the size of the national debt. D. balance the budget.
Which of the following best describes why a perfectly competitive firm will sometimes continue producing in the short run even if it incurs a loss?
A. As long as price exceeds average variable cost, the loss from producing will be smaller than the loss from shutting down, which is equal to the amount of total fixed costs. B. Short-run losses turn into long-run profits when there is entry into the market. C. A perfectly competitive firm should never produce if it incurs a loss because it is unable to influence the market price. D. If price exceeds average total cost, the loss from covering the fixed costs will be smaller than the loss from covering the variable costs.