Which of the following would NOT shift an industry's supply of labor curve?
A) The wage rate in the particular industry falls.
B) Wage rates in industries using similar labor rise.
C) Working conditions within the industry become less desirable.
D) Wage rates in other industries fall.
A
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The table below shows the weekly supply for hamburgers in a market where there are just three sellers.PriceSeller 1 Qs 1Seller 2 Qs 2Seller 3 Qs 3$58544643343222211 If there were 300 sellers in the market, each with a supply schedule identical to seller 1 in the table above, then the weekly quantity of hamburgers supplied in the market at a price of $2 would be
A. 900. B. 1,500. C. 600. D. 200.
Which of the following is not a tool the Fed uses to manage the money supply?
A) open market operations B) setting the discount rate C) setting reserve requirements for deposits in the banking system D) expanding and contracting deposit insurance
Someone who is underemployed is someone who:
A. is working part-time, but wants full-time employment. B. is working in a job for which he is overqualified. C. could be contributing more output to society by either working more, or by working using more advanced skills he possesses but doesn't currently use. D. All of these describe someone who is underemployed.
Which of the following is not an example of market failure?
a. Extreme income inequality b. Externalities c. Efficient equilibrium d. Lack of competition