A decrease in the quantity of resources employed in industry X.
What will be an ideal response?
increase the number of strawberry pickers needed by farmers.
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The neoclassical theory of investment was pioneered by
A) Dale Jorgenson. B) James Tobin. C) John Maynard Keynes. D) Paul Samuelson.
It is estimated that, on the average and ________, union wages are ________ because ________
A) taking account of skill differentials; 30 percent higher than nonunion wages; union workers are better qualified than nonunion workers B) without taking account of skill differentials; equal to nonunion wages; differentiating based on union membership is discrimination and illegal C) without taking account of skill differentials; 15-20 percent higher than nonunion wages; employers are biased against nonunion workers D) taking account of skill differentials; 30 percent higher than nonunion wages; in some industries union workers perform jobs that require greater skill than nonunion workers and employers show bias against nonunion workers E) without taking account of skill differentials; 30 percent higher than nonunion wages; in some industries union workers perform jobs that require greater skill than nonunion workers
In the market for DVDs, 500,000 DVDs a month are available. The value people place on the 500,000th DVD a month is less than the marginal social cost of producing it. Resource use ________
A) is efficient B) is inefficient C) would be more efficient if people firms would produce more DVDs D) would be more efficient if people would buy more DVDs
A movement up along a short run Phillips Curve to an unemployment rate below the natural rate of unemployment will tend to shift the Phillips Curve up, once expectations adjust; a movement down along a short run Phillips Curve to an unemployment rate above the natural rate of unemployment will tend to shift the Phillips Curve down once expectations adjust
a. True b. False Indicate whether the statement is true or false