Naomi Burko, who is a dairy farmer in Tigerton, Wisconsin, became unemployed because fewer and fewer people, concerned about their health, consumed butter. Naomi can best be described as
a. frictionally unemployed
b. structurally unemployed
c. cyclically unemployed
d. not part of the labor force
e. a discouraged worker
B
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The above figure shows the demand and supply curves for high-skilled and low-skilled labor. The wage rate
A) of high-skilled labor is $7.00 and of low-skilled labor is $6.00. B) of high-skilled labor is $9.00 and of low-skilled labor is $7.00. C) of high-skilled labor is $6.00 and of low-skilled labor is $4.00. D) of high-skilled labor is $9.00 and of low-skilled labor is $4.00.
The reduction in transactions costs brought about by financial intermediaries benefits
A) small savers, but not small borrowers. B) small borrowers, but not small savers. C) both small savers and small borrowers. D) society through greater economic efficiency; small savers and borrowers do not gain directly.
Which of the following will be most likely to contribute to the growth of a less-developed country
What will be an ideal response?
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX. Compute the surplus producers receive when an $8 per unit price floor is imposed on the market.
A. $3. B. $1. C. $5. D. $2.