Who among the following is a discouraged worker?
a. Brian, who has delayed joining his new office by a month
b. Regina, who has given up her job search after several failed attempts to find one
c. Daniel, who has a job as a ski instructor only during winter
d. Roger, who is currently unemployed, enjoys the unemployment benefits and is not too eager to search for a new job
b
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To be effective, the minimum wage must be set ________ the market-clearing wage, and this will result in a ________ of labor
A) above; surplus B) above; shortage C) below; surplus D) below; shortage
An increase in the quantity of capital shifts both the long-run and short-run aggregate supply curves
Indicate whether the statement is true or false
If both supply and demand simultaneously decrease
A) the market clearing price definitely rises, and the equilibrium quantity definitely falls. B) the market clearing price definitely rises, and the effect on the equilibrium quantity is indeterminate. C) the market clearing price definitely falls, and the effect on the equilibrium quantity is indeterminate. D) the effect on the market clearing price is indeterminate, and the equilibrium quantity definitely falls.
If a union sets the wage rate to maximize the total wage receipts of its members, the price elasticity of demand for labor would be
A) zero. B) numerically equal to 1. C) finite, but greater than -1. D) positive, but less than 1.