Which of the following affects the wage a firm is willing to pay its workers?
A. the level of payroll taxes the firm must pay
B. consumer demand for the goods and/or services that the firm creates
C. the productivity of workers
D. the amount of fringe benefits the firm is required by law to pay
E. All of the above affect the wage a firm is willing to pay its workers.
Answer: E
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Omar and John can fix computers or write computer programs. The table above shows the number of computers they can fix and the lines of code they can write in a day
a. Who, if anyone, has the absolute advantage? b. Who has the comparative advantage in fixing computers? Why? c. Who has the comparative advantage in writing programs? Why?
A CPI miscalculation that overstates its increase by 0.8 percentage points will cause
A. the price of goods to rise. B. the poverty line to rise too slowly. C. the poverty line to rise too quickly. D. the price of services to rise.
Which of the following will not cause a shift in the demand for resource X?
A. A decline in the price of resource X. B. An increase in the price of the product resource X is producing. C. A decrease in the price of substitute resource Y. D. An increase in the productivity of resource X.
Market failures include all of the following EXCEPT
A. buyers pay for all the costs involved in the production of goods and services. B. negative externalities. C. positive externalities. D. public goods.