Refer to the table above. Laborland has a(n) ________ advantage in ________ shoes
A) comparative; stitching B) absolute; designing
C) absolute; stitching D) comparative; both designing and stitching
A
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In the DMP model, an increase in the unemployment insurance benefit does not, under any circumstances
A) increase the vacancy rate. B) increase the unemployment rate. C) reduce labor market tightness. D) reduce the size of the labor force.
The short-run price elasticity of demand for airline travel is .05, while the long-run elasticity is 2.36 . This means that a significant increase in airline ticket prices will cause airline companies to:
a. collect less revenue from short-notice travelers. b. collect more revenue from travelers who book well in advance. c. lose money on short-notice travelers. d. collect less revenue from travelers who book well in advance. e. lose many of its short-notice travelers.