If the graph shown is displaying a competitive market and the market is currently offering a wage less than P*:
A. there would be a shortage of workers who want to work at that wage.
B. firms would have a hard time finding employees.
C. there would not be unemployment in the market.
D. All of these statements are true.
Answer: D
You might also like to view...
In a 50-firm industry, two of the smallest firms merge. Yet the 4-firm concentration ratio and the 8-firm concentration ratio did not change. All things considered, we can say that the industry has
A) moved closer to pure competition because the number of firms decreased. B) moved farther away from competition because the number of firms decreased. C) experienced no change in competition even though the number of firms decreased. D) to be identified first; otherwise there is no way to tell.
Which of the following constitutes a transfer payment?
a. Income taxes b. Corporate salaries c. Fiscal spending d. Dividend payments e. Welfare benefits
State and local spending in 2007 on police, courts, fire, and corrections represented
a. less than 10 percent of all government spending on police, courts, fire, and corrections b. about one quarter of all government spending on police, courts, fire, and corrections c. nearly half of all government spending on police, courts, fire, and corrections d. roughly two thirds of all government spending on police, courts, fire, and corrections e. 85 percent of all government spending on police, courts, fire, and corrections
Fred Jaher reported to the government interviewer that he worked 40 hours last week as a stocker at a Target department store. He also said that he has a Ph.D. in history and had hoped to be a history professor. With all this information, we know that Fred is
a. a member of the labor force who is underemployed b. a member of the labor force who is structurally unemployed c. a member of the labor force who is frictionally unemployed d. a discouraged worker who is not a member of the labor force e. not a member of the labor force because he is not working at his capacity