In a competitive labor market, if the demand for labor increases, labor demand will shift to the:
A. left and wages will decrease.
B. left and wages will increase.
C. right and wages will decrease.
D. right and wages will increase.
Answer: D
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The above table shows the distribution of wealth and income in Miseria. What percent of wealth is owned by the poorest twenty percent?
A) 0 percent B) 2 percent C) 3 percent D) 5 percent
The manager of Steel Works learns of a new technological interdependency between the intermediate stage and the final stage of production. If Steel Works currently contracts with another firm for the final stage of production, which of the following is true?
A) The manager has less of an incentive to integrate forward. B) The manager has less of an incentive to integrate backward. C) The manager has more of an incentive to integrate backward. D) The manager has more of an incentive to integrate forward.
People who do not work because of physical disability are officially classified as:
a. in the labor force. b. unemployed. c. not in the labor force. d. discouraged worker.
In a free market for rental housing, effective rent control would have which effect?
a. It would cause a reduction in the number of apartments. b. It would cause an increase in the number of apartments, since landlords would try to increase their profits through larger scale. c. It would have no effect on the number of apartments offered in the market. d. The results are impossible to predict.