Which of the following sequences would cause the labor shortage shown in this graph?
a. WMIN goes higher than WE, thereby decreasing QD and increasing QS.
b. WMIN goes lower than WE, thereby decreasing QD and increasing QS.
c. WMIN goes higher than WE, thereby increasing QD and decreasing QS.
d. WMIN goes lower than WE, thereby increasing QD and decreasing QS.
a. WMIN goes higher than WE, thereby decreasing QD and increasing QS.
You might also like to view...
Assume that you have taken over management of a small concession stand on a local beach for the summer. Your main product is iced water, popular on hot days. You’ve been selling 400 cups per day at 50 cents each. The cups cost 5 cents each. One of your customers suggests that you cut the price to 40 cents to make more money. For the customer to be correct, how much must your sales increase?
What will be an ideal response?
Which of the following set of events is most likely to result in moderating the phases of a business cycle?
a. a war coupled with a major improvement in communications technology b. higher interest rates coupled with a decrease in the demand for housing c. the invention of the silicon chip coupled with the invention of a new energy source d. decrease in capital stock coupled with the invention of high-definition television e. a war coupled with higher interest rates
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, a decrease in unemployment may be represented by the movement from
A. B to A. B. C to D. C. B to D. D. A to C.
Refer to the information provided in Figure 6.6 below to answer the question(s) that follow.
Figure 6.6Refer to Figure 6.6. Bill's budget constraint is BD. Bill's income is $600, the price of a bell pepper is $1, and the price of a bag of black beans is $2. At point D Bill is buying ________ bell peppers and ________ bags of black beans.
A. 600; 0 B. 300; 150 C. 600; 300 D. 0; 300