Which of the following is likely to shift the demand curve for engineers rightward, assuming all else equal?
A) An increase in the wage rate paid to engineers
B) A decrease in the wage rate paid to engineers
C) An increase in the productivity of engineers
D) A decrease in the price of all products manufactured by engineers
C
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If a country has an absolute advantage in producing a product, it must also have a comparative advantage in producing that product
Indicate whether the statement is true or false
A useful macroeconomic model
A) is extremely realistic. B) is simple. C) never generates testable hypotheses. D) provides a lot of intricate details.
What is the relationship between interest rates and bond prices? Explain
What will be an ideal response?
Refer to the above table. If the marginal revenue product is $21, how many workers will the profit maximizing monopsonist hire and what wage will they pay each worker?
A) 1; $17 B) 2; $19 C) 2; $21 D) 3; $21