If a larger percentage of Americans attended college, the wage premium would probably
A. continue rising.
B. continue falling.
C. rise.
D. fall.
Answer: D
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In the economic way of thinking, the right to coerce adults is
A) immoral. B) a property right. C) the most efficient way for management to control labor. D) necessarily antithetical to a free and open society. E) good because it's rooted in the Old Testament.
If the marginal physical product of more labor is twice as high as the marginal physical product of more machinery, a rational firm should
A. reduce the labor used and increase the machinery used if labor costs half as much as machinery. B. reduce the labor used and increase the machinery used if labor and machinery cost the same amount. C. reduce the labor used and increase the machinery used only if labor costs more than twice as much as machinery. D. reduce the labor used and increase the machinery used only if labor costs exactly twice as much as machinery.
Capital deepening shifts the output (or production function) curve upward to the right
Indicate whether the statement is true or false
A labor union is an organization representing workers in negotiations with employers over wages, benefits, and working conditions
a. True b. False Indicate whether the statement is true or false