If the price of inputs increases, the
A. supply curve will shift to the left.
B. supply curve will shift to the right
C. demand curve will shift to the left.
D. demand curve will shift to the right.
Answer: A
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Which of the following is not a drawback of utilitarianism?
a. There exists no valid way to make interpersonal utility comparisons. b. Is incompatible with the Pareto criteria. c. It is not directly compatible with economic efficiency. d. It implies social arrangements that most people would find objectionable.
Incrementalism makes sense from a politician's perspective, because _____
a. it keeps all government employees happy b. it eliminates the cost of preparing a budget c. it maximizes political support by giving all special interests something d. they want to be seen in favor of bigger government
Which of the following is a difference between a binding and a not binding price floor?
a. A binding price floor causes a surplus in the market, while a not binding price floor causes a shortage in the market. b. A binding price floor causes a surplus in the market, while a not binding price floor has no impact on the market forces. c. A binding price floor causes a shortage in the market, while a not binding price floor has no impact on the market forces. d. A binding price floor causes a shortage in the market, while a not binding price floor causes a surplus in the market.
Explain some of the causes of increased wage inequality
What will be an ideal response?