Most economists are opposed to the "living wage" concept in foreign labor agreements because:
a. it is barely enough for survival.
b. most workers in low-income nations already earn more.
c. workers should never earn more than the managers.
d. it is well above the market wage, and many workers in poor nations would lose the opportunity to be employed.
Ans: d. it is well above the market wage, and many workers in poor nations would lose the opportunity to be employed.
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Fundamental analysis shows that stock in Johnson's Lumber Company has a price that is less than its present value
a. This stock is overvalued; you should consider adding it to your portfolio. b. This stock is overvalued; you shouldn't consider adding it to your portfolio. c. This stock is undervalued; you should consider adding it to your portfolio. d. This stock is undervalued; you shouldn't consider adding it to your portfolio.
Which of the following would not cause a shift in the supply curve for a good?
A. An increase in demand for that good. B. An increase in the cost of labor used to produce that good. C. A change in the cost of raw materials used to produce that good. D. A decrease in the cost of machinery used to produce that good.
Which of the following was considered a mild recession?
A. 1937-1938 B. 1973-1975 C. 1981-1982 D. 1990-1991
Suppose the economy is producing below the natural rate of output and the government is suffering from large budget deficits. To deal with the deficit problem, suppose the government takes a policy action to reduce the size of the deficits
This policy action will cause ________ in the unemployment rate in the short run and ________ in inflation in the short run, everything else held constant. A) an increase; an increase B) a decrease; a decrease C) a decrease; an increase D) an increase; a decrease