The labor market is composed of
a. a relatively homogeneous supply of labor and downward-sloping demand curve.
b. a vertical supply curve for labor and relatively elastic market demand.
c. many submarkets for labor of different types.
d. more teenagers than any other age group of labor.
c
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If the economy receives an influx of new workers from immigration
A) the long-run aggregate supply curve will shift to the right. B) we will move down along the long-run aggregate supply curve. C) we will move up along the long-run aggregate supply curve. D) the long-run aggregate supply curve will shift to the left.
Which of the following is not an example of price discrimination?
a. IBM charges business users of its laser printer more than home users b. Intel offered faster and slower versions of a computer chip c. An amusement park charges the same admission fee to local residents and out-of-towners d. Adobe stripped some features from Photoshop to offer a cheaper version e. Holders of Nevada driver's licenses pay less to ride the Las Vegas monorail
Darryl would like to work as an accountant full time. A full-time position is not available, however, so he must accept a part-time job working 15 hours per week. The Bureau of Labor Statistics would categorize Darryl as
a. employed. b. unemployed. c. both employed and unemployed. d. not in the labor force.
A graph that illustrates the maximum amount of one good that can be produced for every possible level of production of the other good is called a:
A. production possibilities curve. B. production function. C. consumption possibilities curve. D. supply curve.