As economies develop, more jobs will require more education and training. What effect will this have on the labor market of 18 to 24 year olds?
a. The demand for workers ages 18 to 24 years old will decrease as more young people go to school.
b. The supply of workers ages 18 to 24 years old will decrease as more young people go to school.
c. The demand for workers ages 18 to 24 years old will increase as more young people go to school.
d. The supply of workers ages 18 to 24 years old will increase as more young people go to school.
b. The supply of workers ages 18 to 24 years old will decrease as more young people go to school.
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The Constitution:
a. empowers each state to negotiate its own treaties with foreign governments. b. empowers the Congress to pay off all public debts, including those incurred by the states. c. allows for states to set tariffs on goods imported from another state. d. allows only the Congress to set tariffs on goods moving from one state to another.
All of the following might explain a firm offering quantity discounts except:
a. lower costs of handling large orders. b. an inelastic demand for the good. c. monopoly power in this market. d. existence of some high and some low demand consumers.
The price of services at Urban General falls by 10 percent.
a. Quantity demanded increases by 1.5 percent. b. Quantity demanded falls by 5.0 percent. c. Quantity demanded increases by 15.0 percent. d. Quantity demanded falls by 2.5 percent. e. Quantity demanded rises by 5.0 percent.
Proprietorships:
A.) Dominate market transactions. B.) Are owned by many individual stockholders. C.) Are known for their large assets. D.) Are the most common type of business firm.