Which of the following is TRUE regarding the labor market?
I. The labor supply curve slopes upward because firms maximize profits as they hire more workers.
II. If the real wage rate falls, the quantity of labor firms demand increases.
III. The demand for labor curve slopes downward because as the real wage rate falls, workers demand to work fewer hours.
A) I and II
B) I and III
C) II only
D) I, II and III
C
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_____________ is a financial arrangement whereby people pay premiums tp a(an) ____________ company that reimburses them in the event of loss or injury
a. Stock b. Mutual Fund c. Insurance d. Investiture
The maximum contaminant level goals (MCLGs)
a. define the pollutant level at which no known or expected health effects arise, allowing for a margin of safety b. are enforceable standards c. are unrelated to the maximum contaminant levels (MCLs) d. all of the above
Generally speaking, which of the following groups would tend to gain real income from the wealth effects of inflation?
A. People who purchase long-term bonds when interest rates are low B. People who have passbook savings accounts C. People who own assets that are appreciating faster than the inflation rate D. People who hold all of their assets in the form of cash
The benefits-received principle of taxation is not often used because
A. it leads to less equality in the after-tax distribution of income. B. it is difficult to determine the values individual taxpayers place on goods and services that are produced using tax revenue. C. it leads to an overproduction of public goods. D. if tax payments are linked to the benefits received, taxpayers tend to overstate the benefits that they receive from public goods.