Labor productivity depends on the
a. quality of the labor
b. the effectiveness of government
c. the proportion of the labor force that is unionized
d. the size of the economy
e. All of the answers are correct
A
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The figure above illustrates the current market for fast-food workers in Baltimore
a. Without any government intervention, what is the equilibrium wage rate and amount of employment? b. If the city government imposes a minimum wage of $3 an hour, what is the amount of employment? Does the minimum wage create any unemployment? Why or why not? c. If the city government imposes a minimum wage of $6 an hour, what is the amount of employment? Does the minimum wage create any unemployment? Why or why not?
When did housing prices start to fall during the most recent housing boom?
A) 2005 B) 2006 C) 2007 D) 2008
One reason many people make their own Hollandaise sauce rather than buy it is that
a. they can maintain control over the quality during production b. the total cost of ingredients is the same as the price of store-bought sauce c. firms do not make high-quality Hollandaise sauce d. people place a high value on their time e. firms do not produce goods that can be made at home
Suppose the United Auto Workers union obtains a substantial wage increase for auto workers. How will this affect the market for automobiles?