Consider a country's labor market that is initially in equilibrium. Which of the following changes will be observed if a massive earthquake drastically reduces its total population?
a. The labor supply curve will shift to the right.
b. The labor supply curve will shift to the left.
c. The labor demand curve will shift to the left.
d. The equilibrium wage rate will decrease.
b
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A general formula for the multiplier is 1/(1-MPS)
Answer the following statement(s) true (T) or false (F)
Consider the utility function 
. Which of the following are true statements about the indifference maps represented by this function.
A.
.B.
.C.
.D.
E.
Refer to Table 7-1. Use the table above to select the statement that accurately interprets the data in the table
A) Rob has a comparative advantage in picking berries. B) Bill has a comparative advantage in catching fish. C) Rob has a comparative advantage in catching fish and picking berries. D) Bill has a comparative advantage in picking berries.
A zero pollution level is not achievable because
A) corporations would lobby against it. B) it implies no production and no consumption. C) it implies an output level larger than that from a competitive market equilibrium. D) consumption would be larger than production.