In a competitive economy, workers will be paid according to their
A) status.
B) age.
C) marginal productivity.
D) need.
Answer: C
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Unemployment would decrease and prices would increase if
a. aggregate demand shifted right. b. aggregate demand shifted left. c. aggregate supply shifted right. d. aggregate supply shifted left.
Which statement describes the advantage of operating a sole? proprietorship?
A. An important financial advantage in many sole proprietorships is the opportunity to share costs. B. In a sole? proprietorship, the owner and the business are legally inseparable. C. Sole proprietors have more privacy and generally are not required to report anything to anyone. D. Sole proprietorships are? liquid, which also helps give them a long life? span; when shareholders sell or bequeath their? shares, ownership simply passes to a new? generation, so to speak. E. Sole proprietorships have the ability to pool money by selling shares of stock to outside investors.
The total number of workers in two different countries are equal. However, each worker in Country A is three times more productive than a worker in Country B. Which of the following is true in this case?
A) The capital stock in Country B is three times more than the capital stock in Country A. B) The total efficiency units of labor in Country A is three times more than the total efficiency units of labor in Country B. C) The total efficiency units of labor in Country A is one-third of the total efficiency units of labor in Country B. D) The total efficiency units of labor in Country B is six times more than the total efficiency units of labor in Country B.
A change in supply is represented by a shift of the supply curve
Indicate whether the statement is true or false