Which of the following is a valid explanation for rising wages?
A. increases in labor productivity
B. reductions in the capital available to workers
C. a reduction in the demand for goods produced by labor
D. an increase in the supply of labor
Answer: A
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Nontariff barriers to trade are less transparent than tariffs
Indicate whether the statement is true or false
If an upstream monopoly and a downstream monopoly vertically integrate into a profit-maximizing monopoly, then the total amount of deadweight loss in the industry
A) will increase. B) will decrease. C) will remain unchanged. D) cannot be determined.
A compensation scheme that pays salespeople a percentage of the sales they make is attempting to reward
a. work effort. b. loyalty to the firm. c. years of schooling. d. years of experience.
Your friend is thinking of opening a video store. She estimates it would cost $500,000 a year to rent the store and buy video stock. She is planning to quit her $50,000 a year job as an accountant to run the store. Her opportunity cost of opening the store is
a. $500,000 b. $550,000 c. $50,000 d. $450,000 e. $60,000