Reference no: EM131112460
1. Why is the demand for labor more elastic in the long run?
A. Output effect
B. Input-substitution effect
C. Both A and B
2. The skills required for gold miners and coal miners are very similar. Suppose the price of coal declines --- what is the expected impact of thsi change on the labor supply curve for gold miners?
A. Does not change
B. Shifts leftward
C. Shifts rightward
3. In a recent editorial printed in the Wall Street Journal, an economist proposed that the federal government remove the minimum wage regulation and provide a fixed payment (e.g., $5,000) to each worker who earns less than the old minimum wage. What impact would this proposed policy have on the labor market?
A. Higher employment and lower wages
B. Lower employment and lower wages
C. Lower employment and higher wages
D. Higher employment and higher wages
4. Based on data from 2007, the top one percent of workers earned more than 20 percent of the income in the US.
A. True B. False
5. According to economists, luck and misfortune have no impact on the differences in income earned by workers.
A. True B. False
Firms constitute horizontal-vertical or conglomerate merger
: Would integration between the following types of firms constitute a horizontal, a vertical, or a conglomerate merger?
|
Computer firms build more manufacturing firms
: What effect on market labor in tablet company manufacturing industry if Congress bought more tablets for US college students, more college students major in engineering and computer science, and computer firms build more manufacturing firms?
|
Low out-of-pocket expenses but not forced savings accounts
: The Singapore system and the Whole Foods and State of Indiana systems share the. low out-of-pocket expenses but not the forced savings accounts.
|
Decides to increase the tax rate on savings instruments
: Suppose the government decides to increase the tax rate on savings instruments. What will happen in the short-run? Use a graph to back up your answer. What happens in the long-run? Use a graph to back up your answer. Will GDP growth rates be affected..
|
Why is the demand for labor more elastic in the long run
: Why is the demand for labor more elastic in the long run? The skills required for gold miners and coal miners are very similar. Suppose the price of coal declines --- what is the expected impact of thsi change on the labor supply curve for gold miner..
|
Clean air act instituted trades between states for emissions
: The Clean Air Act instituted trades between states for SO2 emissions. Several utility companies across geographic borders have engaged in such trades in recent years. Consider a trade between a utility in Wisconsin and the TVA in Tennessee. Assume th..
|
Executive and congressional plans for reconstructing union
: Compare and contrast the executive and congressional plans for reconstructing the Union. What was their objective? Which plan was better for the nation? Why?
|
What is the expected payoff of investing
: Two companies, Rothko, LLC, and Calder & Co., are racing each other to be the first to apply new deep-water drilling technologies to an oil deposit. If Rothko, LLC gets to the oil first, its stock will increase by 63%, and Calder & Co.\'s stock price..
|
What are the chances of turning negative profits
: In Lookout, CA there are three car owners, one car thief, and an insurance company. Every year, one, and only one, car gets stolen with equal chance. The insurer offers a $12,000 policy at a $5,000 premium. What are the chances of turning negative pr..
|