The marginal product of a country's workers increases during summer due to the pleasant weather. Which of the following is likely to happen in this case, assuming all else equal?
A) The country's labor demand curve will shift to the left in summer.
B) There will be a downward movement along the labor demand curve.
C) There will be an upward movement along the labor demand curve.
D) The country's labor demand curve will shift to the right in summer.
D
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A mother of three who receives $600 a month in total welfare benefits if she is not working, but who loses all those benefits and also pays 10 percent of her earnings to the tax collector if she takes a job paying $1000 a month, is being taxed on her
earnings at an effective marginal rate of A) 10 percent. B) 30 percent. C) 50 percent. D) 70 percent.
When we describe stock prices as following a random walk, we mean that future changes in stock prices are
A) unpredictable. B) increasing. C) decreasing. D) constant.
The quantity of a good demanded tends to increase as its price falls because: a. a decrease in price shifts the demand curve to the right
b. a decrease in price shifts the demand curve to the left. c. a decrease in price shifts the supply curve to the right. d. a decrease in price leads consumers to substitute toward this now relatively cheaper product.
Abstraction can lead to gross distortions of pertinent facts.
Answer the following statement true (T) or false (F)