Assume the market for pork is perfectly competitive. When one pork buyer exits the market,
a. the price of pork increases.
b. the price of pork decreases.
c. the price of pork does not change.
d. there is no longer a market for pork.
c
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A labor union is a group of workers and business owners who join together to improve working conditions
a. True b. False
The labor demand curve shows the
a. number of workers that firms will want to hire at any wage rate b. number of people who will want jobs at any wage rate c. amount of labor that a firm needs to produce a given amount of output d. equilibrium wage rate and number of workers employed e. amount of output workers will be able to buy for a given number of hours worked
In order to raise the rate of economic growth the United States needs to
A. Spend more on consumer goods. B. Use older, tried and true technology. C. Have its consumers save less. D. Have its business firms invest more.
The Earned Income Tax Credit is available to all taxpayers, regardless of income level.
Answer the following statement true (T) or false (F)