A new law requiring plumbers to pass strict certification tests that reduce the number of plumbers would
a. increase the wage rate of plumbers.
b. decrease the wage rate of plumbers.
c. increase the employment of plumbers.
d. cause no change in the labor market for plumbers.
A
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If the foreign exchange rate for 1 Hungarian forint is 0.5 cent, then
A) a dinner priced at 400 forints will cost $20. B) a wine that sells for 600 forints will cost $3,000. C) a Big Mac hamburger priced at 50 forints will cost $1. D) a hotel room renting for 40,000 forints will cost $200.
The fundamental source of monopoly power is
a. many buyers and sellers. b. low fixed costs. c. rising average total costs. d. barriers to entry.
If supply decreases while demand is unchanged, the equilibrium price ____ and the equilibrium quantity ____. Question 16 options:
A. does not change; does not change B. rises; decreases C. rises; increases D. falls; increases
Higher rates of unemployment are linked with:
A. greater political stability because the employed tend to be more politically active. B. higher crime rates as the unemployed seek to replace lost income. C. lower rates of heart disease as the unemployed have eliminated job stress. D. improvements in overall health as the unemployed have more leisure time to be physically active.