Other things being equal, an increase in labor productivity will shift the labor supply curve to the right
a. True
b. False
Indicate whether the statement is true or false
False
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In the United Kingdom, most doctors are privately employed
Indicate whether the statement is true or false
The Herfindahl-Hirschman Index for a monopoly is
A) 1. B) 100. C) 10,000. D) undefined.
Minimum-wage laws and unions are similar to each other but different from efficiency wages in that minimum-wage law and unions
a. cause unemployment, but efficiency wages do not. b. cause the quantity of labor supplied to exceed the quantity of labor demanded, but efficiency wages do not. c. cause wages to be above the equilibrium level. d. prevent firms from lowering wages in the presence of a surplus of workers.
Suppose the required reserve ratio is 3 percent, and currency and reserves total $10 million. The maximum change in the money supply that can be supported is:
A. $13 million. B. $30 million. C. $97 million. D. $333.3 million.