If there is an increase in immigration into a specific labor market, then
A. The supply of labor shifts leftward, and the equilibrium wage will increase.
B. The equilibrium wage will rise, and the quantity of labor hired will fall.
C. The demand for labor will increase, and the equilibrium wage rises.
D. The supply of labor shifts rightward, and the equilibrium wage will fall.
Answer: D
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Under what conditions might government intervention in a market economy improve the economy's performance?
When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease. B. prices, causing them to definitely rise. C. output, causing it to definitely increase. D. prices, causing them to definitely fall.
Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
How can changes over time of the average height of the people in a country help to indicate the standard of living in a country?
What will be an ideal response?