Which of the following is likely to lead to a right shift in the supply curve for labor in an industry?
A) The introduction of labor-saving technology
B) A decrease in the opportunity cost of leisure
C) An increase in the number of immigrants from foreign countries
D) The introduction of labor-complementary technology
C
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Which of the following BEST describes macroeconomics?
A) It is not a social science because its predictions cannot be tested. B) It analyzes the aggregate effects on the national economy of the choices made by individuals, firms, and governments. C) It examines how the choices that individuals affect governments. D) It studies the choices that individuals and businesses make when coping with scarcity. E) Proving causation is never a problem for macroeconomics.
Legislators are not likely to substitute money transfers to low-income people for in-kind benefits (e.g., food stamps, health care) because
A) low-income people generally do not know how to manage money effectively. B) low-income people prefer in-kind transfers. C) special interest groups benefit from the system of in-kind transfers. D) giving cash to the poor would necessitate a tax increase.
A strikebreaker is
A) a temporary worker hired by a company to replace a union member who is striking. B) when the President imposes a cooling-off period. C) someone who engages in featherbedding. D) a secondary boycott.
Suppose Hillary values a large order of French fries at $4 . Bill values a large order of French fries at $7 . The pre-tax price of a large order of French fries is $2 . The government imposes a "fat tax" of $3 on each large order of French fries, and the price rises to $5 . The deadweight loss from the tax is
a. $4, and the deadweight loss comes from both Hillary and Bill. b. $4, and the deadweight loss comes only from Hillary because she does not buy a large French fries after the tax. c. $2, and the deadweight loss comes from both Hillary and Bill. d. $2, and the deadweight loss comes only from Hillary because she does not buy a large French fries after the tax.