The movement of workers between jobs, firms, and industries is called:
A. diminishing returns to labor.
B. worker mobility.
C. globalization.
D. the reservation price.
Answer: B
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In the above table, the average propensity to save when disposable income is $5,000 is
A) -0.1. B) 0.1. C) 0.0. D) 0.2.
A country's GNP is always larger than its GDP
Indicate whether the statement is true or false
Suppose a perfectly competitive firm faces the following short-run cost and revenue conditions: ATC = $6.00; AVC = $4.00; MC = $3.50; MR = $3.50. The firm should
A) increase output. B) increase price. C) remain at the same position. D) shut down.
Assuming that GDP currently equals potential GDP, a cost-push inflation could result from which of the following?
A. a decrease in tax rates B. an increase in the labor force C. a large crop failure that boosts the prices of raw food materials D. an increase in the nation's capital stock