Which of the following is likely to shift the labor supply curve to the right, assuming all else equal?
A) A rise in the wage rate
B) A fall in the wage rate
C) A fall in the population of the country due to a natural disaster
D) A rise in the immigration of workers in search of better work opportunities
D
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The demand schedules for such products as eggs, bread, and electricity tend to be
A. relatively elastic. B. perfectly elastic. C. unit-elastic. D. relatively inelastic.
One of the largest categories of exports from the United States is now pop culture: movies, music, TV programming, and videos. A direct conclusion from this information is that, compared to other countries, the United States has
A) lower wages for producers of pop culture. B) higher wages for producers of pop culture. C) a higher opportunity cost of producing pop culture. D) a lower opportunity cost of producing pop culture.
What type of business has the potential for double taxation of profits and why?
What will be an ideal response?
If Happy Cleaners and Sparkle Cleaners are in a Cournot oligopoly and Happy Cleaners has a higher cost of production than Sparkle Cleaners, in equilibrium, Happy Cleaners will produce ________ than Sparkle Cleaners and charge a price that is ________ Sparkle Cleaners.
A) more; less than B) less; greater than C) less; the same as D) more; the same as