Growth in employment can result
a. from an increase in labor supply only
b. from an increase in labor demand only
c. from changes in technology only
d. from an increase in either labor supply or labor demand
e. only when the wage rate falls
D
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Johnson's Piggery is the only employer in town. Johnson employs 500 workers and pays them each a wage of $8 . The MRP of the 500th worker is $10 . Johnson's return to monopsony power is
a. 2 percent b. equal to the marginal labor cost c. $4,000 d. $9 e. $1,000
The Pollution Prevention Act of 1990
a. replaced the National Environmental Policy Act of 1969 (NEPA) b. was repealed in 2005 c. ranks source reduction as the primary goal followed by waste treatment d. ranks recycling above source reduction
As you move down the production possibility frontier, the absolute value of the marginal rate of transformation
A. increases. B. initially decreases, then increases. C. decreases. D. initially increases, then decreases.
What impact would including members of the military in employment, labor force, and working-age population statistics have on the unemployment rate and the labor force participation rate?
A) Including the military would reduce both the unemployment rate and the labor force participation rate. B) Including members of the military would reduce the unemployment rate and increase the labor force participation rate. C) Including the military would increase both the unemployment rate and the labor force participation rate. D) Including members of the military would increase the unemployment rate and reduce the labor force participation rate.