Which of the following is not a reason for compensating wage differentials?
a. The risk involved in certain jobs
b. An excess supply of workers in some industries
c. A high probability of staying away from home
d. To attract more laborers in risky professions
e. Unpleasant working consditions
b
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What did the Bretton Woods Agreement do?
What will be an ideal response?
If a typical firm in a perfectly competitive industry is incurring losses, then
A) some firms will enter in the long run, causing market supply to increase and market price to rise increasing profit for all firms. B) some firms will exit in the long run, causing market supply to decrease and market price to fall increasing losses for the remaining firms. C) some firms will exit in the long run, causing market supply to decrease and market price to rise increasing profits for the remaining firms. D) all firms will continue to lose money.
In the market for a normal good, what is the ultimate market reaction of suppliers to an increase in the incomes of consumers?
A) Suppliers do not react, because a change in income shifts the demand curve, not the supply curve. B) The supply curve shifts to the right. C) The supply curve shifts to the left. D) Quantity supplied increases as the equilibrium moves along the supply curve due to a rise in the demand.
If the interest rate increases, the
a. cost of saving will increase b. cost of borrowing will increase c. firm should decrease the amount of capital it owns by selling capital d. firm should acquire more capital e. supply of loanable funds will increase