Suppose a college increases the wages paid to student employees. Which of the following options is the best description of the most likely effect of the increase in wage earnings on the demand curve for school sweatshirts in the bookstore?
A) The demand curve shifts to the right.
B) The demand curve shifts to the left.
C) a leftward movement along the demand curve
D) a rightward movement along the demand curve
A
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In 2008, interest rates on Treasury securities fell even though most other interest rates were rising
a. True b. False Indicate whether the statement is true or false
If government regulations make a certain job less dangerous, then we'd expect that the supply of labor for that job would
a. increase, which by itself would raise the wage for that job. b. increase, which by itself would reduce the wage for that job. c. decrease, which by itself would raise the wage for that job. d. decrease, which by itself would reduce the wage for that job.
An important development during the Great Recession (roughly 2008-2012) was that
A. the unemployment rate increased dramatically but the average unemployment spell remained constant at about 8 weeks of unemployment. B. more than 35 percent of all unemployed workers remained unemployed for more than 26 months. C. the amount of frictional and seasonal unemployment increased dramatically while the amount of structural unemployment decreased substantially. D. more than 70 percent of all unemployed workers exited unemployment within 5 weeks; however, most of this movement was due to the unemployed becoming discouraged and exiting the labor force rather than finding a job. E. most than 50 percent of all unemployed workers remained unemployed for 13 to 26 weeks.
According to the Laffer curve, an increase in the tax rate will increase tax revenue
A. if the economy is on the positively sloped section of the curve. B. if the economy is on the negatively sloped section of the curve. C. no matter the location of the economy on the curve. D. if the economy is at the farthest point out on the curve.